Wells Fargo & Company Reaffirms Equal Weight Rating for Q32 Bio (NASDAQ:QTTB)

In a recent announcement, Wells Fargo & Company has reaffirmed its "equal weight" rating for Q32 Bio, a clinical-stage biotechnology company. This confirmation was made in a research report distributed to investors and clients on Wednesday. According to this report, Wells Fargo has set a new price target of $16.00 for Q32 Bio, significantly reduced from their earlier target of $95.00. The revised target price implies a potential decline of approximately 34.45% from the stock's previous closing price.

In addition, other analysts have also shared their insights regarding Q32 Bio. Piper Sandler recently cut their price target from $85.00 to $20.00 while maintaining an "overweight" rating. Furthermore, Raymond James started following Q32 Bio on October 24th and assigned an optimistic "strong-buy" recommendation with a price target of $90.00. Likewise, BMO Capital Markets began their coverage on December 6th, recommending an "outperform" rating and a price objective of $64.00.

As it stands, the stock has received various ratings from analysts; two have designated it with a hold rating, five have given a buy rating, and one has issued a strong buy rating. According to MarketBeat.com, Q32 Bio currently enjoys a consensus rating of "Moderate Buy" with an average target price of $40.14.

Q32 Bio Stock Performance

On the latest trading day, Q32 Bio opened at $24.41. Over the past year, the stock has experienced a low of $9.54 and a high of $53.79. The company's 50-day simple moving average stands at $39.13, while the 200-day average is $34.69. Q32 Bio has a market capitalization of $297.34 million, a debt-to-equity ratio of 0.61, and a P/E ratio of -1.71.

Institutional Inflows and Outflows

Several large investors have recently adjusted their stakes in Q32 Bio. Values First Advisors Inc. acquired a new stake worth $33,000 in the third quarter. Meanwhile, BNP Paribas Financial Markets expanded its investment by 199.1%, now holding 1,298 shares worth $58,000 after acquiring 864 shares in the previous quarter. MetLife Investment Management secured a new stake valued at $159,000, and Franklin Resources Inc. added to its ownership with a new investment worth approximately $225,000. Additionally, Barclays PLC increased its stake by 105.2%, owning 10,443 shares worth $465,000. Institutional investors collectively hold about 31.32% of Q32 Bio’s stock.

About Q32 Bio

Q32 Bio Inc is a biotechnology firm focused on developing biological therapeutics aimed at restoring a healthy immune balance in patients suffering from autoimmune and inflammatory diseases. Its leading product candidate, ADX-097, is a humanized anti-C3d monoclonal antibody fusion protein designed to restore complement regulation. This candidate has completed Phase I clinical trials for several severe, complement-mediated diseases, including lupus nephritis and immunoglobulin A nephropathy.

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