Q32 Bio (QTTB)
Advances bempikibart, an anti-IL-7Rα antibody, for alopecia areata.
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A clinical-stage biologics company focused on bempikibart for alopecia areata. Its pipeline also retains earlier-stage complement-platform assets after the ADX-097 asset sale.
Develops bempikibart, an anti-IL-7Rα antibody being advanced for alopecia areata. The clinical-stage program is its primary near-term focus after Q32 sold the ADX-097 research, development, manufacturing, and commercialization assets to Akebia. The company retains earlier-stage tissue-targeted complement-platform assets, including ADX-096.
Operations are based in Waltham, Massachusetts, with the current public listing stemming from the merger with Homology. After reporting top-line results from SIGNAL-AA Part B, it said it intends to move bempikibart into a registration-directed development program. Progress depends on advancing bempikibart through clinical development and maintaining financing for research and public-company operations.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Morgan Stanley | Initiate | Overweight | $34 | ||
| Jul 28, 2026 | H.C. Wainwright | Reiterate | Buy | $13 | $36 | |
| Jul 13, 2026 | Wells Fargo | Reiterate | Overweight | $95 | $66 | |
| Jul 13, 2026 | Oppenheimer | Reiterate | Outperform | $80 | $40 | |
| May 22, 2026 | Mizuho Securities | Target | $14 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $106.3M · Total debt $5.3M · Total assets $115.9M · Shareholders' equity $105.9M
- Revenue
- $0
- Operating income
- −$9.1M
- Net income
- −$8.9M
No dividends on record.
| Institutions53 holders · as of Mar 31, 2026 | 31.67% | 9.43M shares | |
| Insiders5 holders · as of Aug 27, 2026 | 2.35% | 700.5K shares | |
| Strategic holders1 holder · as of Jun 8, 2026 | 2.10% | 625.0K shares | |
| Otherremainder | 63.88% | 19.02M shares |
29.77M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Boxer Capital Management, LLCInstitution | 10.58% | 3.15M | 13Gfiled Jul 10, 2026 ↗ |
RA Capital Management, L.P.Institution | 7.84% | 2.33M | 13Gfiled Jun 4, 2026 ↗ |
Orbimed Advisors LLCInstitution | 7.57% | 2.25M | 13Fas of Mar 31, 2026 |
Atlas Venture Life Science Advisors, LLCInstitution | 7.03% | 2.09M | 13Fas of Mar 31, 2026 |
Opaleye Management Inc.Institution | 4.22% | 1.26M | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Shelia M. Violette | officer: Chief Scientific Officer | −2,798 | $16.56 |
| Aug 25, 2026 | Lee Kalowski | officer: CFO and President | −3,972 | $16.56 |
| Aug 25, 2026 | Jodie Pope Morrison | director, officer: CEO | −9,845 | $16.56 |
| May 28, 2026 | Orbimed Advisors LLC | director, 10 percent owner: | +1,875,000 | $8.00 |
| May 28, 2026 | Diyong Xu | director, 10 percent owner: | +1,875,000 | $8.00 |
- Eli Lilly
Approved oral therapy for adult severe alopecia areata
- Pfizer
Approved oral therapy for severe alopecia areata from age 12
- Nektar Therapeutics
Phase 2b Treg biologic for severe-to-very-severe alopecia areata
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Q32 Bio | $13.70 | +1.11% | $404.5M | 4.9 | — | 7.5 | — |
| Eli Lilly | $1,165.17 | +0.50% | $1.09T | 38.9 | 28.4 | 13.7 | +47.7% |
| Pfizer | $28.99 | −0.14% | $165.40B | 38.3 | 10.4 | 2.6 | +2.6% |
| Nektar Therapeutics | $73.06 | +0.40% | $2.09B | — | — | 38.2 | −9.3% |
| Median | 38.6 | 19.4 | 13.7 | +2.6% |