02:00 PM EST, 12/11/2024 (MT Newswires) -- Q32 Bio ( QTTB ) said late Tuesday its phase 2a clinical trial in atopic dermatitis failed to meet the primary endpoint in Part B after demonstrating promising findings in Part A.

Wells Fargo downgraded the company's shares to equal-weight from overweight while adjusting the stock's price target to $16 from $95.

Shares slumped more than 72% in recent trading Wednesday as intraday trading volume soared to over 1.8 million from a daily average of about 109,000.

AnaptysBio ( ANAB ) shares sank 35% amid heavy trading after the company said Wednesday it would discontinue further investment in experimental therapy ANB032 after a phase 2b trial in moderate-to-severe atopic dermatitis or eczema did not meet the primary and secondary endpoints.

More than 3.08 million shares traded intraday compared with a daily average of about 457,000.

ImmunityBio ( IBRX ) said Wednesday that it priced a 33.3-million-share stock offering at $3 apiece for expected proceeds of about $100 million.

Shares dived 32% as intraday trading volume climbed to more than 22.3 million from a daily average of roughly 5.2 million.

Price: 6.66, Change: -17.76, Percent Change: -72.74