Quanterix (NASDAQ:QTRX) Trading Down 3.6%

Shares of Quanterix Co. (NASDAQ:QTRX) traded down 3.6% on Wednesday . The stock traded as low as $15.52 and last traded at $15.52. 45,270 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 343,587 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

Separately, Scotiabank boosted 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. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanterix currently has a consensus rating of “Buy” and a consensus price target of $32.00.

Quanterix Stock Down 2.7 %

The company has a market cap of $599.38 million, a P/E ratio of -18.72 and a beta of 1.30. The business has a fifty day moving average of $23.49 and a 200 day moving average of $23.58.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $31.55 million during the quarter, compared to analysts’ expectations of $27.92 million. Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. On average, sell-side analysts anticipate that Quanterix Co. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Laurie J. Olson sold 1,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the sale, the director now directly owns 15,238 shares of the company’s stock, valued at $371,045.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanterix

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Quanterix by 22.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock worth $303,000 after buying an additional 2,340 shares during the period. Los Angeles Capital Management LLC grew its holdings in Quanterix by 93.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 20,191 shares of the company’s stock valued at $476,000 after buying an additional 9,764 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in Quanterix by 89.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 146,366 shares of the company’s stock valued at $4,002,000 after buying an additional 69,279 shares in the last quarter. Blue Water Life Science Advisors LP purchased a new position in Quanterix during the 4th quarter valued at approximately $7,879,000. Finally, Superstring Capital Management LP purchased a new position in Quanterix during the 4th quarter valued at approximately $1,962,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

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.