Algert Global LLC Takes $1.04 Million Position in Quanterix Co. (NASDAQ:QTRX)

Algert Global LLC bought a new position in Quanterix Co. (NASDAQ:QTRX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 78,337 shares of the company’s stock, valued at approximately $1,035,000. Algert Global LLC owned about 0.20% of Quanterix as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of QTRX. Easterly Investment Partners LLC raised its holdings in shares of Quanterix by 779.9% during the second quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock valued at $9,151,000 after purchasing an additional 614,012 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Quanterix by 22.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after buying an additional 326,876 shares during the last quarter. Blue Water Life Science Advisors LP bought a new stake in shares of Quanterix in the fourth quarter worth $7,879,000. Farallon Capital Management LLC increased its position in Quanterix by 156.0% during the first quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock valued at $11,097,000 after acquiring an additional 287,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Quanterix in the second quarter valued at about $3,389,000. Institutional investors own 86.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QTRX. TD Cowen cut their price target on Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Scotiabank dropped their price target 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. Finally, The Goldman Sachs Group reduced their price objective on Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th.

Insider Activity at Quanterix

In other Quanterix news, Director David R. Walt purchased 47,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the purchase, the director now directly owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is owned by corporate insiders.

Quanterix Trading Up 0.1 %

NASDAQ QTRX opened at $11.90 on Friday. The stock has a market cap of $455.41 million, a price-to-earnings ratio of -12.40 and a beta of 1.36. Quanterix Co. has a 12 month low of $10.50 and a 12 month high of $29.70. The company’s 50 day moving average is $12.94 and its two-hundred day moving average is $15.46.

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

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.