Q32 Bio (QTTB) AI Stock Analysis

• Market Cap: $44.30M
• Dividend Yield: N/A
• Average Volume (3M): 396.43K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.76
• Revenue Growth: N/A
• EPS Growth: 49.57%
• Country: US
• Employees: 28
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.60
• Shares Outstanding: 12,304,352
• 10 Day Avg. Volume: 79,560
• 30 Day Avg. Volume: 396,427
• PEG Ratio: 0.01
• Price to Book (P/B): 7.39
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.62
• Enterprise Value/Market Cap: -0.18
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 85.47
• Enterprise Value/Ebitda: 0.39
• 1Y Price Target: $15.00
• Price Target Upside: 316.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: $3.50 ▼(-2.78% Downside)

Overall score is held down primarily by weak financial fundamentals (no revenue, sizable losses, cash burn, and negative equity). Offsetting factors include favorable recent corporate developments that improve runway and execution progress, plus a constructive technical trend; valuation is constrained by negative earnings and no dividend yield data.

Positive Factors

Strategic Restructuring

By focusing on bempikibart, Q32 Bio aims to streamline operations and extend its cash runway, potentially leading to more sustainable growth and improved financial stability.

Cash Runway Extension

Extending the cash runway provides Q32 Bio with more time to develop its pipeline, reducing immediate financial pressure and enhancing long-term viability.

Focus on Core Development

Focusing on core development projects like bempikibart could lead to breakthroughs in autoimmune treatments, strengthening Q32 Bio's market position.

Negative Factors

Financial Instability

Ongoing financial instability due to negative revenue and margins could hinder Q32 Bio's ability to invest in R&D and sustain operations long-term.

High Leverage

High leverage limits financial flexibility and increases risk, potentially affecting Q32 Bio's ability to secure favorable financing for future projects.

Negative Cash Flow

Negative operating cash flow indicates ongoing cash strain, which could impact Q32 Bio's ability to fund operations and invest in growth opportunities.

Q32 Bio Business Overview & Revenue Model

Company Description

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. The company is also developing Bempikibart (ADX-914), a fully human anti–interleukin-7 receptor alpha antagonist monoclonal antibody designed to re-regulate adaptive immune function by blocking signaling mediated by interleukin-7 and thymic stromal lymphopoietin that is Phase II clinical trial for the treatment of atopic dermatitis and alopecia areata. Q32 Bio Inc. was formerly known as AdMIRx Inc. and changed its name to Q32 Bio Inc. in April 2020. The company was founded in 2017 and is based in Waltham, Massachusetts.

How the Company Makes Money

Q32 Bio makes money primarily through the development and commercialization of its therapeutic products. The company's revenue model includes partnerships and collaborations with larger pharmaceutical companies, which may involve upfront payments, milestone-based payments, and royalties from the sales of developed drugs. Additionally, Q32 Bio may receive funding from grants and research collaborations, which contribute to its operational and developmental expenses. The company's earnings are significantly influenced by the success of its clinical trials and the subsequent approval and commercialization of its therapies.

Q32 Bio Financial Statement Overview

Summary

Q32 Bio is facing significant financial challenges, with negative revenue and margins, high leverage, declining equity, and negative cash flow, indicating financial instability and the need for strategic restructuring.

Income Statement

Q32 Bio has been experiencing significant challenges in terms of revenue generation, with TTM (Trailing-Twelve-Months) revenue dropping to zero from $1.156 million in 2023. The gross profit margin is negative due to no revenue and persistent losses, indicating operational inefficiencies. Net profit margins have been consistently negative, and the company is struggling with high EBIT and EBITDA losses, reflecting ongoing financial challenges in achieving profitability.

Balance Sheet

The company's balance sheet shows a concerning debt-to-equity ratio due to negative equity, reflecting financial instability. Despite a significant amount of cash and short-term investments, the liabilities are considerably high relative to assets. Equity has been declining, impacting the overall equity ratio negatively. The company needs to address its high leverage and improve equity levels to stabilize its financial foundation.

Cash Flow

Q32 Bio's cash flow statement reveals negative operating cash flow, indicating cash strain due to unprofitable operations. Although there is a notable increase in financing cash flow, this reliance on external financing might not be sustainable. Free cash flow remains negative, pointing to ongoing challenges in maintaining liquidity and financial flexibility. The free cash flow to net income ratio indicates difficulties in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	-6.65M	6.65M	33.97M	2.70M
Gross Profit	-91.00K	-487.00K	-6.65M	6.65M	24.43M	2.70M
EBITDA	-20.09M	-45.30M	-47.76M	-38.85M	-86.22M	-119.79M
Net Income	-42.10M	-47.73M	-53.74M	-42.81M	-95.76M	-128.69M
Balance Sheet
Total Assets	57.78M	92.33M	47.06M	61.77M	211.72M	263.74M
Cash, Cash Equivalents and Short-Term Investments	49.04M	77.97M	25.62M	43.89M	155.87M	217.43M
Total Debt	11.35M	18.90M	50.84M	44.73M	23.93M	15.44M
Total Liabilities	76.23M	86.66M	229.98M	192.49M	42.07M	67.74M
Stockholders Equity	-18.45M	5.67M	-182.92M	-130.71M	169.65M	196.00M
Cash Flow
Free Cash Flow	-38.79M	-67.79M	-18.68M	-13.44M	-112.15M	-98.06M
Operating Cash Flow	-38.79M	-67.72M	-18.68M	-10.96M	-109.75M	-94.33M
Investing Cash Flow	-2.00K	19.93M	-5.00K	-2.47M	-50.79M	204.90M
Financing Cash Flow	-1.25M	95.14M	406.00K	30.07M	52.17M	53.09M

Q32 Bio Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QTTB, the sentiment is Positive. The current price of 3.6 is above the 20-day moving average (MA) of 3.27, above the 50-day MA of 2.90, and above the 200-day MA of 2.21, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 61.03 is Neutral, neither overbought nor oversold. The STOCH value of 64.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for QTTB.

Q32 Bio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRCE	58 Neutral	$56.33M	-6.22	-13.15%	―	―	45.97%
QTTB	54 Neutral	$44.30M	-1.04	―	―	―	49.57%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PDSB	51 Neutral	$53.92M	-1.20	-221.81%	―	―	29.95%
CALC	51 Neutral	$78.82M	-3.41	-526.36%	―	―	-2.46%
SNTI	48 Neutral	$28.92M	-0.33	-394.62%	―	―	78.60%
TPST	43 Neutral	$12.56M	-0.25	-405.03%	―	―	49.43%

Q32 Bio Corporate Events

Q32 Bio Retains Mark Iwicki as Board Chair

On December 17, 2025, Q32 Bio Inc. announced that board member Mark Iwicki, who had previously notified the company of his intention to resign from its Board of Directors effective December 31, 2025, withdrew that resignation after a reduction in the number of boards on which he serves. With the full support of the board, Iwicki will remain Chair of the Board and the Compensation Committee, as well as a member of the Audit Committee, preserving leadership continuity and stability in Q32 Bio’s governance structure.

The most recent analyst rating on (QTTB) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Q32 Bio stock, see the QTTB Stock Forecast page.

Q32 Bio Sells ADX-097 to Akebia Therapeutics

On November 28, 2025, Q32 Bio Inc. entered into an Asset Purchase Agreement with Akebia Therapeutics, selling its Phase 2 complement inhibitor, ADX-097. This transaction, which includes an upfront payment of $7 million and additional milestone payments, is expected to extend Q32 Bio’s cash runway into the second half of 2027. The sale allows Q32 Bio to focus on advancing its bempikibart program for alopecia areata, while Akebia will handle the future development and commercialization of ADX-097. The agreement also includes potential milestone payments up to $580 million and tiered royalties on future sales of ADX-097. This strategic move strengthens Q32 Bio’s financial position and aligns with its focus on addressing significant unmet medical needs in alopecia areata.

The most recent analyst rating on (QTTB) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Q32 Bio stock, see the QTTB Stock Forecast page.

Q32 Bio Completes Enrollment for Alopecia Trial

On October 21, 2025, Q32 Bio announced the completion of enrollment in Part B of its SIGNAL-AA Phase 2a clinical trial for bempikibart, a treatment for severe alopecia areata. The trial exceeded its target enrollment due to high demand, enrolling 33 patients instead of the planned 20. This milestone highlights the company’s commitment to advancing bempikibart as a potentially differentiated therapeutic option, with topline data expected by mid-2026. The trial aims to support further pivotal trials, pending successful results, and demonstrates Q32 Bio’s capability in executing its clinical development plan.

The most recent analyst rating on (QTTB) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Q32 Bio stock, see the QTTB Stock Forecast page.