Quanterix (NASDAQ:QTRX) Trading Up 4.9% – Here’s What Happened

by · The Cerbat Gem

Quanterix Co. (NASDAQ:QTRXGet Free Report)’s share price was up 4.9% during trading on Tuesday . The company traded as high as $13.17 and last traded at $13.17. Approximately 41,859 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 395,633 shares. The stock had previously closed at $12.56.

Analyst Upgrades and Downgrades

QTRX has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Scotiabank decreased their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. Finally, TD Cowen dropped their price objective on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, August 9th.

View Our Latest Stock Report on QTRX

Quanterix Price Performance

The business has a 50 day moving average of $12.70 and a 200 day moving average of $14.17. The firm has a market capitalization of $511.67 million, a price-to-earnings ratio of -13.86 and a beta of 1.36.

Quanterix (NASDAQ:QTRXGet Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. The company had revenue of $34.38 million during the quarter, compared to the consensus estimate of $34.19 million. During the same period last year, the company earned ($0.16) earnings per share. As a group, equities analysts predict that Quanterix Co. will post -0.88 EPS for the current year.

Insider Transactions at Quanterix

In other Quanterix news, Director David R. Walt bought 47,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $13.29 per share, with a total value of $624,630.00. Following the completion of the purchase, the director now owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC grew its stake in Quanterix by 22.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after purchasing an additional 326,876 shares in the last quarter. Williams Jones Wealth Management LLC. acquired a new position in Quanterix in the 1st quarter valued at about $1,327,000. Easterly Investment Partners LLC raised its holdings in Quanterix by 551.1% in the 1st quarter. Easterly Investment Partners LLC now owns 78,734 shares of the company’s stock valued at $1,855,000 after acquiring an additional 66,642 shares during the period. Harbor Capital Advisors Inc. lifted its position in Quanterix by 772.3% during the second quarter. Harbor Capital Advisors Inc. now owns 83,941 shares of the company’s stock worth $1,109,000 after acquiring an additional 74,318 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Quanterix by 145.8% during the first quarter. Principal Financial Group Inc. now owns 26,824 shares of the company’s stock worth $632,000 after acquiring an additional 15,909 shares during the period. Institutional investors own 86.48% of the company’s stock.

Quanterix Company Profile

(Get Free Report)

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.

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