Q32 Bio (NASDAQ:QTTB) Shares Down 2.9%

Q32 Bio Inc. (NASDAQ:QTTB) shares fell 2.9% during mid-day trading on Thursday . The company traded as low as $25.31 and last traded at $25.77. 48,943 shares were traded during trading, an increase of 67% from the average session volume of 29,387 shares. The stock had previously closed at $26.54.

Wall Street Analyst Weigh In

Several research firms have recently commented on QTTB. Oppenheimer assumed coverage on shares of Q32 Bio in a research report on Thursday, April 11th. They issued an “outperform” rating and a $50.00 price target on the stock. Piper Sandler began coverage on Q32 Bio in a report on Tuesday, April 2nd. They set an “overweight” rating and a $45.00 target price on the stock.

Q32 Bio Stock Down 0.7 %

The stock has a market capitalization of $83.42 million, a P/E ratio of -0.73 and a beta of -0.26.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($4.32) EPS for the quarter. As a group, analysts expect that Q32 Bio Inc. will post -4.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QTTB. Carlyle Group Inc. acquired a new stake in shares of Q32 Bio during the first quarter worth $18,074,000. BML Capital Management LLC purchased a new position in Q32 Bio during the first quarter worth about $424,000. Finally, Vivo Capital LLC acquired a new stake in Q32 Bio in the 1st quarter worth about $6,306,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

About Q32 Bio

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics targeting powerful regulators of the innate and adaptive immune systems to rebalance immunity in autoimmune and inflammatory diseases. Its products in the pipeline include ADX-914, a human anti-IL-7R antibody that re-regulates adaptive immune function, and ADX-097, which has in vivo biodistribution to affected tissues and organs, durable tissue pharmacokinetics and pharmacodynamics, and robust in vivo efficacy.