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

29 Oct 2024, 15:09 by Scott Moore · The Cerbat Gem

Quanterix Co. (NASDAQ:QTRX – Get 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:QTRX – Get 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

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