Q32 Bio Sees Unusually Large Options Volume (NASDAQ:QTTB)

Key Points

• Q32 Bio saw unusually heavy call-option activity, with 7,501 call options traded—about 790% above its typical daily volume of 843.
• Insiders made substantial purchases, with Orbimed Advisors and Director Diyong Xu each buying 1.875 million shares at $8 per share. Insiders now own 34.46% of the company, while institutional investors hold 31.32%.
• Analyst sentiment remains positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average $30 price target. Shares closed at $15.82, while recent targets ranged from $36 to $40.

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) saw some unusual options trading on Friday. Stock traders acquired 7,501 call options on the company. This is an increase of 790% compared to the typical daily volume of 843 call options.

Insider Activity at Q32 Bio

In related news, Director Orbimed Advisors Llc purchased 1,875,000 shares of the stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the transaction, the director directly owned 3,502,987 shares of the company's stock, valued at approximately $28,023,896. The trade was a 115.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diyong Xu bought 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the director owned 3,502,987 shares in the company, valued at $28,023,896. The trade was a 115.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 34.46% of the company's stock.

Institutional Trading of Q32 Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in Q32 Bio in the 2nd quarter worth approximately $297,000. Carlyle Group Inc. bought a new position in Q32 Bio in the 2nd quarter valued at $769,000. BlackRock Inc. bought a new position in Q32 Bio in the 2nd quarter valued at $1,510,000. ADAR1 Capital Management LLC increased its stake in shares of Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company's stock valued at $225,000 after buying an additional 15,000 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company's stock valued at $1,328,000 after buying an additional 107,315 shares during the period. Institutional investors and hedge funds own 31.32% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Cantor Fitzgerald initiated coverage on shares of Q32 Bio in a research note on Monday, May 18th. They issued an "overweight" rating for the company. Oppenheimer lifted their target price on shares of Q32 Bio from $20.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Mizuho started coverage on Q32 Bio in a report on Friday, May 22nd. They issued an "outperform" rating and a $14.00 target price on the stock. Finally, Zacks Research lowered Q32 Bio from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.00.

Q32 Bio Trading Down 0.3%

NASDAQ QTTB traded down $0.04 on Friday, hitting $15.82. 61,280 shares of the company were exchanged, compared to its average volume of 751,164. The firm has a 50 day moving average of $14.48 and a two-hundred day moving average of $9.24. The company has a market cap of $470.95 million, a P/E ratio of 5.27 and a beta of 0.23. Q32 Bio has a 1-year low of $1.62 and a 1-year high of $23.57.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. Research analysts anticipate that Q32 Bio will post -1.53 EPS for the current fiscal year.

About Q32 Bio

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.

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