Quanterix (NASDAQ:QTRX) Shares Down 3.4%

Quanterix Co. (NASDAQ:QTRX) fell 3.4% during mid-day trading on Thursday . The stock traded as low as $13.25 and last traded at $13.31. 21,139 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 383,399 shares. The stock had previously closed at $13.78.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QTRX. Scotiabank upped their target price on Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, March 4th. Canaccord Genuity Group cut their target price on Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $30.60.

Quanterix Price Performance

The firm’s fifty day simple moving average is $16.14 and its 200 day simple moving average is $21.66.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. The company had revenue of $32.07 million for the quarter, compared to analyst estimates of $31.72 million. As a group, equities research analysts anticipate that Quanterix Co. will post -0.86 EPS for the current year.

Institutional Investors Weigh In On Quanterix

Several hedge funds have recently added to or reduced their stakes in the business. Farallon Capital Management LLC boosted its stake in shares of Quanterix by 156.0% during the 1st quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock worth $11,097,000 after acquiring an additional 287,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Quanterix during the 1st quarter worth about $341,000. Comerica Bank boosted its stake in shares of Quanterix by 44,205.6% during the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock worth $188,000 after acquiring an additional 7,957 shares in the last quarter. Blue Water Life Science Advisors LP boosted its stake in shares of Quanterix by 7.3% during the 1st quarter. Blue Water Life Science Advisors LP now owns 309,093 shares of the company’s stock worth $7,282,000 after acquiring an additional 20,897 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Quanterix by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,916 shares of the company’s stock worth $941,000 after acquiring an additional 1,186 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

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.