Q32 Bio Inc. (QTTB) Stock

Q32 Bio Inc. (QTTB) is a Healthcare stock trading at $15.97 (as of 2026-08-21), with a market capitalization of $270.79M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Q32 Bio Inc. is a clinical-stage biotechnology company developing biologic therapeutics aimed at correcting pathological immune dysfunction in autoimmune and inflammatory diseases. Its pipeline includes ADX-097 (anti-C3d monoclonal antibody fusion protein) and Bempikibart/ADX-914 (anti–interleukin-7 receptor alpha antagonist), which are in Phase I and Phase II clinical development for complement-mediated disorders and inflammatory skin or hair conditions.

Understand Q32 Bio Inc.: how it makes money

Q32 Bio Inc. develops biologic therapeutics to restore healthy immune balance for autoimmune and inflammatory diseases, and it is currently funded in part by collaboration revenue while advancing clinical-stage programs like ADX-097.

Because Q32 Bio is a clinical-stage biotech with no demonstrated product revenue in the provided period, its profit potential is primarily driven by the ongoing outcome of clinical development and the ability to monetize that progress through collaboration revenue.

Business quality (Mixed): Good operating detail on clinical study progress, but the financial base shown here is minimal (revenue 0.0B) and the business is still highly dependent on future trial outcomes.

Valuation: At 5× earnings, QTTB trades 72% below the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

  • ADX-097 has completed Phase I: The lead candidate ADX-097 has completed Phase I clinical trial work for renal and other complement-mediated diseases.
  • Clinical signals reported in alopecia areata metrics: In SIGNAL-Alopecia Areata Part B, the mean reduction in Severity of Alopecia Tool score at Week 24 is 16% for Bempikibart versus 2% for placebo.

Bear case

  • Minimal revenue in the provided period: The company reports revenue of 0.0B for the period ending 2023-06-30.
  • Large operating losses: Operating margin is shown as -8705.1% for the period ending 2023-06-30.
  • Clinical outcomes may not hold up beyond current readouts: The company’s future economics depend on continued clinical success, and current measures in early or interim studies do not guarantee later-stage or regulatory approval.
Valuation — source: SEC EDGAR (first-party)
Price$15.97
Market Cap$270.79M
Price / Book5.85
FCF Yield-18.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$53.74M
Net Margin55.5%
Revenue Growth (YoY)-100.0%
EPS Growth (YoY)162.6%
FCF Growth (YoY)-29.7%
Financial Health — source: SEC EDGAR
Altman Z-Score5.07 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderORBIMED ADVISORS LLC ($14.46M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOJodie Pope Morrison
Employees28
CountryUS
IPO Date2018-03-28

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QTTB earnings history · QTTB institutional & insider holders · QTTB KPIs & operating metrics · QTTB financials · QTTB investor presentations & press releases · QTTB SEC filings · QTTB peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.