Q32 Bio initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Q32 Bio (QTTB) with an Outperform rating and $64 price target Q32’s lead clinical programs bempikibart in atopic dermatitis and alopecia and ADX-097 in a renal basket study and anti-neutrophil cytoplasmic autoantibody-associated vasculitis “provide multiple shots on goal for significant share appreciation,” the analyst tells investors. BMO expects data for bempikibart in December and data from ADX-097 in 2025, adding that it views Q32’s ADX-097 as “particularly interesting given its validated complement mechanism in high unmet need autoimmune disorders.”