Jupiter Asset Management Ltd. Sells 13,168 Shares of Quanterix Co. (NASDAQ:QTRX)

Jupiter Asset Management Ltd. reduced its stake in shares of Quanterix Co. (NASDAQ:QTRX) by 28.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,721 shares of the company’s stock after selling 13,168 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.09% of Quanterix worth $445,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. lifted its holdings in Quanterix by 14.5% during the 2nd quarter. American Century Companies Inc. now owns 56,145 shares of the company’s stock worth $742,000 after buying an additional 7,118 shares in the last quarter. Pier Capital LLC lifted its stake in shares of Quanterix by 48.9% during the second quarter. Pier Capital LLC now owns 414,542 shares of the company’s stock valued at $5,476,000 after acquiring an additional 136,051 shares during the period. CIBC Asset Management Inc bought a new position in Quanterix in the second quarter valued at about $210,000. Valmark Advisers Inc. increased its position in Quanterix by 36.3% in the second quarter. Valmark Advisers Inc. now owns 113,023 shares of the company’s stock worth $1,493,000 after purchasing an additional 30,110 shares during the period. Finally, Picton Mahoney Asset Management raised its holdings in Quanterix by 91.7% during the 2nd quarter. Picton Mahoney Asset Management now owns 165,076 shares of the company’s stock worth $2,180,000 after purchasing an additional 78,984 shares during the last quarter. 86.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on QTRX. Scotiabank reduced their target price 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. The Goldman Sachs Group reduced their price objective on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, TD Cowen dropped their target price 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Quanterix currently has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Quanterix Price Performance

Quanterix stock opened at $12.82 on Friday. The firm has a market capitalization of $492.03 million, a price-to-earnings ratio of -13.35 and a beta of 1.36. The company’s 50 day simple moving average is $13.36 and its 200 day simple moving average is $16.84. Quanterix Co. has a fifty-two week low of $10.50 and a fifty-two week high of $29.70.

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

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.