The cluster is a tug-of-war: Invesco and Point72's large new/add positions suggest a value or turnaround thesis, while two full exits by First Trust and Balyasny indicate deep bearish conviction. Monitor QDEL's next earnings for revenue/earnings trajectory to see which side is validated.
Executive Summary
QDEL saw a mixed institutional cluster in Q3 2024: 9 buyers added $136.9M in new holdings (led by Invesco doubling to $91.6M and Point72 initiating a $34.3M position), while 8 sellers reduced by $38.1M (including full exits by First Trust Advisors and Balyasny totaling $30.9M). The net buying of ~$98.8M is directionally positive, but the heavy selling by two funds exiting entirely signals deep conviction on the bear side, creating a tug-of-war between value-oriented accumulation and thesis abandonment.
Key Financial Metrics
Institutional Positions
Net institutional flow: $98.9M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Invesco | DOUBLED | +562.6% | $91.6M | $81.5M |
| Point72 | NEW | +0% | $34.3M | $34.3M |
| Citadel | DOUBLED | +362.8% | $2.9M | $2.4M |
| Ameriprise Financial | DOUBLED | +272.7% | $8.7M | $7.0M |
| Tudor Investment Corp Et Al | ADD | +62.3% | $10.0M | $5.5M |
| Legal & General Group | ADD | +76.8% | $8.0M | $4.7M |
▼ Sellers (8)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| First Trust Advisors | EXIT | -100% | $18.9M | -$18.9M |
| Balyasny Asset Management | EXIT | -100% | $12.1M | -$12.1M |
| Russell Investments Group | TRIM | -73.4% | $5.0M | -$3.2M |
| Massachusetts Financial Servic | TRIM | -33.6% | $17.1M | -$1.5M |
| Alliancebernstein | TRIM | -65.2% | $2.3M | -$1.2M |
Key Facts
- 9 institutional buyers added $136.9M in new QDEL holdings in Q3 2024
- 8 institutional sellers reduced holdings by $38.1M, including two full exits
- Invesco doubled its position to 2.01M shares worth $91.6M (largest buyer)
- Point72 initiated a new 752.6K-share position worth $34.3M
- First Trust Advisors and Balyasny each fully exited positions totaling $30.9M
- Net institutional inflow was approximately $98.8M
Financial Impact
Net institutional inflow of approximately $98.8M in Q3 2024, with $136.9M in buying vs $38.1M in selling
Risk Factors
- Full exits by two funds suggest thesis abandonment by some informed capital
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-QDEL-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 19d ago | SC 13G/A | $12.31 $13.87 | ▲ +12.67% | ▲ +13.65% | — |
Sep 23, 2026 4w ago | 8-K | $10.69 $10.38 | ▲ +2.90% | ▲ +2.48% | — |
Jul 15, 2026 14w ago | 3 | $18.24 $16.58 | ▼ −9.10% | ▼ −7.43% | — |
Jun 23, 2026 17w ago | 8-K | $12.21 $18.18 | ▲ +48.89% | ▲ +47.19% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $14.13 $13.67 | ▼ −3.26% | ▼ −3.93% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $14.09 $13.13 | ▼ −6.81% | ▼ −7.25% | — |
Apr 27, 2026 25w ago | DEFA14A | $12.02 $12.42 | ▲ +3.33% | ▲ +1.64% | — |
Apr 15, 2026 27w ago | 8-K | $12.69 $11.24 | ▲ +11.43% | ▲ +12.41% | — |
US Market Status
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