Short Interest in Quanterix Co. (NASDAQ:QTRX) Declines By 32.0%

Quanterix Co. (NASDAQ:QTRX) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,040,000 shares, a decrease of 32.0% from the February 28th total of 3,000,000 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 780,100 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QTRX. Canaccord Genuity Group cut their price target on Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Scotiabank reissued an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th.

Quanterix Stock Performance

Shares of Quanterix stock opened at $6.51 on Tuesday. The company has a market capitalization of $252.43 million, a P/E ratio of -6.14 and a beta of 1.33. Quanterix has a 1 year low of $6.16 and a 1 year high of $23.86. The company’s fifty day moving average is $7.94 and its two-hundred day moving average is $10.59.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The company had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.93 million. As a group, equities analysts expect that Quanterix will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Quanterix

A number of large investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Quanterix by 111.3% during the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock worth $34,079,000 after acquiring an additional 1,688,680 shares in the last quarter. Portolan Capital Management LLC grew its holdings in Quanterix by 2.7% in the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company’s stock valued at $27,509,000 after purchasing an additional 67,138 shares during the period. Vanguard Group Inc. grew its stake in shares of Quanterix by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock valued at $23,569,000 after buying an additional 19,386 shares during the period. Millennium Management LLC increased its stake in Quanterix by 6.0% during the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock worth $23,228,000 after acquiring an additional 122,969 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Quanterix in the fourth quarter valued at approximately $11,290,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

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.