Quanterix (NASDAQ:QTRX) Hits New 52-Week Low at $13.05

Shares of Quanterix Co. (NASDAQ:QTRX) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $13.05 and last traded at $13.09, with a volume of 145455 shares changing hands. The stock had previously closed at $13.41.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QTRX shares. Canaccord Genuity Group cut their price target on Quanterix from $32.00 to $25.00 and set a “buy” rating for the company in a report on Monday, April 29th. Scotiabank lifted their price target on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, March 4th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Quanterix presently has a consensus rating of “Buy” and an average target price of $30.60.

Quanterix Price Performance

The company has a market cap of $491.00 million, a price-to-earnings ratio of -13.36 and a beta of 1.50. The firm has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $21.65.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.07. The firm had revenue of $32.07 million for the quarter, compared to analyst estimates of $31.72 million. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. Research analysts anticipate that Quanterix Co. will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanterix

A number of hedge funds have recently made changes to their positions in the stock. Swiss National Bank grew its position in Quanterix by 1.0% in the 3rd quarter. Swiss National Bank now owns 78,200 shares of the company’s stock valued at $2,122,000 after acquiring an additional 800 shares in the last quarter. Strs Ohio boosted its stake in shares of Quanterix by 5.7% in the 4th quarter. Strs Ohio now owns 18,400 shares of the company’s stock valued at $503,000 after buying an additional 1,000 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Quanterix by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,916 shares of the company’s stock valued at $941,000 after purchasing an additional 1,186 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Quanterix by 22.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock valued at $303,000 after buying an additional 2,340 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Quanterix by 17.3% during the 3rd quarter. Barclays PLC now owns 15,911 shares of the company’s stock worth $433,000 after acquiring an additional 2,342 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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.