Oppenheimer Lowers Target Price for Q32 Bio Stock

In a significant move, Oppenheimer has cut its price target for shares of Q32 Bio (NASDAQ:QTTB) from $80.00 to $20.00. This adjustment was reported on Wednesday, and despite the reduction, Oppenheimer maintains an "outperform" rating on the stock. The new target price suggests that there could be a potential downside of about 18.07% compared to the last closing price of the company.

In addition to Oppenheimer's assessment, other equities research analysts have also provided updates on Q32 Bio's stock. For instance, Piper Sandler has lowered its price target on the company from $85.00 to $20.00 while retaining an "overweight" rating. Similarly, Raymond James reaffirmed its "outperform" rating but decreased its target price from $90.00 to $22.00.

BMO Capital Markets recently started its coverage of Q32 Bio, assigning an "outperform" rating with a price target of $64.00. Wells Fargo & Company has also re-evaluated its stance, maintaining an "equal weight" rating and setting a target price of $16.00, down from $95.00. Lastly, Leerink Partners reiterated a "market perform" rating with a new target price of $9.00, which is a significant drop from their previous target of $68.00.

Currently, two analysts rate Q32 Bio's stock as a hold, while five have given it a buy rating, and one assigned it a strong buy rating. Overall, the average rating from analysts for the company stands at "Moderate Buy," with a consensus price target of $35.86 based on data from MarketBeat.

Current Stock Performance

On Wednesday, shares of Q32 Bio opened at $24.41. The company holds a strong position with a current ratio of 6.53 and a quick ratio of 6.53, while its debt-to-equity ratio stands at 0.61. Over the last year, Q32 Bio's stock has fluctuated, hitting a low of $9.54 and a high of $53.79. As of now, the company's market capitalization is approximately $297.34 million, with a price-to-earnings (PE) ratio of -1.71.

Institutional Interest in Q32 Bio

Recent changes in positions by institutional investors show increasing interest in Q32 Bio. FMR LLC escalated its stake in the company by 137.3% during the third quarter, amassing a total of 426,302 shares valued at $19,022,000. Additionally, Eventide Asset Management LLC and Harvard Management Co. Inc. made new investments in Q32 Bio, contributing significant amounts to the company's equity.

Overall, institutional investors and hedge funds collectively own around 31.32% of Q32 Bio's stock, indicating a solid interest from larger financial entities.

About Q32 Bio

Q32 Bio Inc. is a clinical-stage biotechnology company dedicated to developing biologic therapeutics aimed at restoring healthy immune balance in patients afflicted by autoimmune and inflammatory diseases. Its lead product, ADX-097, is a humanized anti-C3d monoclonal antibody fusion protein that seeks to restore complement regulation in patients suffering from conditions such as lupus nephritis and other complement-mediated diseases.

Oppenheimer, Stock, Price