Investors Buy Large Volume of Q32 Bio Call Options (NASDAQ:QTTB)

Q32 Bio Inc. (NASDAQ:QTTB) saw some unusual options trading activity on Friday. Stock investors purchased 7,501 call options on the stock. This is an increase of approximately 790% compared to the typical daily volume of 843 call options.

Insider Activity

In other Q32 Bio news, Director Diyong Xu purchased 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $8.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the director directly owned 3,502,987 shares in the company, valued at $28,023,896. This represents a 115.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Orbimed Advisors Llc purchased 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the transaction, the director owned 3,502,987 shares in the company, valued at $28,023,896. This trade represents a 115.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 34.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Q32 Bio

Several large investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Q32 Bio during the second quarter worth $25,000. Acadian Asset Management LLC bought a new position in shares of Q32 Bio in the 1st quarter valued at about $50,000. Two Sigma Investments LP bought a new position in shares of Q32 Bio in the 3rd quarter valued at about $62,000. ADAR1 Capital Management LLC bought a new position in shares of Q32 Bio in the 4th quarter valued at about $66,000. Finally, AQR Capital Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth about $68,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HC Wainwright lifted their price objective on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Zacks Research cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Oppenheimer increased their target price on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q32 Bio in a research note on Friday, August 7th. Finally, Mizuho assumed coverage on shares of Q32 Bio in a report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Q32 Bio Stock Down 0.3%

Shares of NASDAQ:QTTB traded down $0.04 during midday trading on Friday, reaching $15.82. The company had a trading volume of 61,280 shares, compared to its average volume of 751,164. Q32 Bio has a 1-year low of $1.62 and a 1-year high of $23.57. The stock has a market cap of $470.95 million, a PE ratio of 5.27 and a beta of 0.23. The business’s 50 day moving average price is $14.48 and its 200 day moving average price is $9.24.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. On average, research analysts expect that Q32 Bio will post -1.53 earnings per share for the current fiscal year.

Q32 Bio Company Profile

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.