Quanterix (NASDAQ:QTRX) Trading 6.9% Higher

Quanterix Co. (NASDAQ:QTRX)’s stock price shot up 6.9% during trading on Thursday . The company traded as high as $15.31 and last traded at $15.12. 209,486 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 397,053 shares. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Scotiabank reduced their price target on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group decreased their target price on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, TD Cowen reduced their price objective on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanterix currently has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Quanterix Stock Down 6.1 %

The firm’s fifty day simple moving average is $13.43 and its 200-day simple moving average is $16.45. The company has a market cap of $558.05 million, a PE ratio of -15.15 and a beta of 1.36.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $34.38 million for the quarter, compared to analysts’ expectations of $34.19 million. Quanterix had a negative return on equity of 11.52% and a negative net margin of 30.71%. During the same period in the previous year, the business posted ($0.16) EPS. On average, analysts predict that Quanterix Co. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David R. Walt acquired 47,000 shares of Quanterix stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $19,766,775.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of Quanterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank grew its holdings in Quanterix by 44,205.6% in the first quarter. Comerica Bank now owns 7,975 shares of the company’s stock valued at $188,000 after purchasing an additional 7,957 shares during the period. Quest Partners LLC purchased a new stake in shares of Quanterix during the 4th quarter valued at $240,000. Canada Pension Plan Investment Board purchased a new stake in shares of Quanterix during the 2nd quarter valued at $140,000. Janney Capital Management LLC acquired a new stake in Quanterix during the first quarter worth about $259,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Quanterix by 34.7% in the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after purchasing an additional 3,279 shares during the period. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Quanterix Company Profile

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.