David R. Walt Buys 47,000 Shares of Quanterix Co. (NASDAQ:QTRX) Stock

Quanterix Co. (NASDAQ:QTRX) Director David R. Walt acquired 47,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $13.29 per share, with a total value of $624,630.00. Following the purchase, the director now owns 1,487,342 shares of the company’s stock, valued at approximately $19,766,775.18. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Quanterix Price Performance

Shares of QTRX opened at $14.14 on Thursday. The company has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $16.55. The firm has a market capitalization of $541.14 million, a PE ratio of -14.73 and a beta of 1.36. Quanterix Co. has a one year low of $10.50 and a one year high of $29.70.

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 firm had revenue of $34.38 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned ($0.16) earnings per share. Analysts expect that Quanterix Co. will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new stake in Quanterix during the second quarter worth about $140,000. Hsbc Holdings PLC grew its stake 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 buying an additional 3,279 shares during the last quarter. Comerica Bank increased its position in Quanterix by 44,205.6% during the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock valued at $188,000 after buying an additional 7,957 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Quanterix by 11.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,261 shares of the company’s stock valued at $188,000 after buying an additional 1,417 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Quanterix in the second quarter worth $210,000. 86.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QTRX has been the subject of several analyst reports. Scotiabank dropped their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. TD Cowen cut their target price on Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, The Goldman Sachs Group lowered their price target on Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Quanterix has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

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.