Quanterix (NASDAQ:QTRX) Sets New 1-Year Low at $13.05

Quanterix Co. (NASDAQ:QTRX) shares hit a new 52-week low during trading on Friday . The company traded as low as $13.05 and last traded at $13.09, with a volume of 145455 shares traded. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank raised their price objective 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 dropped their price target on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanterix presently has an average rating of “Buy” and an average target price of $30.60.

Quanterix Stock Performance

The firm has a market cap of $491.00 million, a P/E ratio of -13.36 and a beta of 1.50. The stock has a fifty day simple moving average of $16.14 and a 200 day simple moving average of $21.65.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Tuesday, May 7th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. The business had revenue of $32.07 million during the quarter, compared to analyst estimates of $31.72 million. Quanterix had a negative return on equity of 10.39% and a negative net margin of 28.82%. Research analysts predict that Quanterix Co. will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On Quanterix

A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in shares of Quanterix by 1.0% during the 3rd quarter. Swiss National Bank now owns 78,200 shares of the company’s stock valued at $2,122,000 after purchasing an additional 800 shares during the period. Strs Ohio increased its holdings in Quanterix by 5.7% during the fourth quarter. Strs Ohio now owns 18,400 shares of the company’s stock valued at $503,000 after buying an additional 1,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Quanterix by 3.1% in the first 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 during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Quanterix by 22.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock worth $303,000 after acquiring an additional 2,340 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Quanterix by 17.3% during the 3rd quarter. Barclays PLC now owns 15,911 shares of the company’s stock valued at $433,000 after acquiring an additional 2,342 shares during the period. 86.48% of the stock is currently 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.