Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 364,600 shares, a growth of 16.4% from the August 15th total of 313,100 shares. Based on an average daily volume of 108,100 shares, the days-to-cover ratio is presently 3.4 days. Currently, 8.6% of the shares of the company are short sold.
Q32 Bio Stock Down 2.5 %
Shares of QTTB traded down $1.17 on Monday, hitting $44.98. 118,911 shares of the stock traded hands, compared to its average volume of 62,364. Q32 Bio has a 1 year low of $8.24 and a 1 year high of $53.79. The stock has a market cap of $537.15 million, a price-to-earnings ratio of -1.38 and a beta of -0.32. The firm has a 50 day moving average price of $36.87. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37.
Q32 Bio (NASDAQ:QTTB – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.42). Research analysts forecast that Q32 Bio will post -11.76 EPS for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on QTTB
Hedge Funds Weigh In On Q32 Bio
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in shares of Q32 Bio during the 1st quarter valued at $62,000. Rhumbline Advisers grew its position in Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after acquiring an additional 7,593 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Q32 Bio in the 2nd quarter worth about $265,000. Bank of New York Mellon Corp purchased a new position in shares of Q32 Bio in the 2nd quarter worth about $315,000. Finally, Ikarian Capital LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at about $381,000. Institutional investors and hedge funds own 31.32% of the company’s stock.
Q32 Bio Company Profile
Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.
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