Q32 Bio (QTTB) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Q32 Bio

NasdaqCM•Healthcare•Biotechnology

$11.69-0.30(-0.03%)Pre-market

Market Cap

$220.92M

P/E

6.5x

P/S

4.1x

P/B

2.1x

Q32 Bio Inc., a clinical-stage biotechnology company, develops novel biologics to restore healthy immune balance in patients with alopecia areata and other autoimmune and inflammatory diseases driven by pathological immune dysfunction. The company is developing Bempikibart (ADX-914), a fully human antiinterleukin-7 receptor alpha antagonist monoclonal antibody which completed Phase 2a clinical trials, designed to re-regulate adaptive immune function by blocking signaling mediated by interleukin-7 and thymic stromal lymphopoietin for the treatment of atopic dermatitis and alopecia areata. It also develops ADX-096, a C3d mAb CR1 fusion protein for use in ophthalmologic indications, as well as other C3d mAb fusions and nanobodies designed for tissue-targeted complement inhibition and a range of other indications. The company was founded in 2017 and is based in Waltham, Massachusetts.

How this company scores

GoodMetricSide Score: 67/100

Strongest: Profitability (22/25); weakest: Cash & Earnings Quality (8/25).

Profitability22/25

Growth22/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality8/25

Strengths

Growing revenueStrong marginsHigh ROERising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 6.5x5y range 1.3x – 6.5x

P/S · 4.1x5y range 0.7x – 622.3x

Currently below its 17-quarter median.

P/B · 2.1x5y range 0.4x – 40.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $220.92M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $53.74M
Q. Revenue: $0
TTM EBITDA: $21.82M
TTM Op. Income: $21.46M
Q. Op. Income: $-9.12M
TTM Net Income: $33.79M
Q. Net Income: $-8.95M
EPS: $-0.44
Shares Out.: $20.34M

$53.74M in TTM revenue grew 17812.3% YoY, reaching $0 last quarter. TTM EBITDA of $21.82M and TTM operating income of $21.46M show growth is flowing through to the bottom line. TTM net income of $33.79M means revenue is converting into profit. Over the past year, TTM revenue is up 17812% — a steady trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -911800000.0%
Net Margin: -894600000.0%

Op. margin of -911800000.0% is up 5300000.0% YoY — cost efficiency is improving. Net margin at -894600000.0% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 6.5x
P/S Ratio: 4.1x
P/B Ratio: 2.1x

At 6.5x P/E, the stock trades below typical market levels. P/S of 4.1x and P/B of 2.1x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 3 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $115.87M
Cash: $106.27M
Long-Term Debt: N/A
Book Value: $105.91M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-3.08M
TTM Free Cash Flow: $-19.83M
FCF Margin: -36.9%
FCF / Net Income: -0.6

TTM FCF of $-19.83M on $-3.08M in operating cash flow. The FCF / Net Income ratio of -0.6x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.