Quanterix (NASDAQ:QTRX) Shares Up 6.9%

Quanterix Co. (NASDAQ:QTRX) shares were up 6.9% on Thursday . The company traded as high as $15.31 and last traded at $15.12. Approximately 209,486 shares were traded during trading, a decline of 47% from the average daily volume of 397,053 shares. The stock had previously closed at $14.14.

Analysts Set New Price Targets

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

Quanterix Stock Performance

The company’s 50-day simple moving average is $13.40 and its 200 day simple moving average is $16.55. The company has a market cap of $601.99 million, a PE ratio of -15.75 and a beta of 1.36.

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

Insider Buying and Selling at Quanterix

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

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently bought and sold shares of QTRX. Canada Pension Plan Investment Board acquired a new stake in shares of Quanterix in the second quarter valued at approximately $140,000. Hsbc Holdings PLC boosted its stake in Quanterix by 34.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after purchasing an additional 3,279 shares during the period. Comerica Bank grew its position in Quanterix by 44,205.6% during the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock worth $188,000 after purchasing an additional 7,957 shares during the last quarter. Allspring Global Investments Holdings LLC grew 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 worth $188,000 after purchasing an additional 1,417 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Quanterix in the second quarter valued at $210,000. 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.