Bulltick Wealth Management LLC Buys New Position in Quanterix Co. (NASDAQ:QTRX)

Bulltick Wealth Management LLC purchased a new stake in Quanterix Co. (NASDAQ:QTRX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 59,500 shares of the company’s stock, valued at approximately $786,000.

Other hedge funds have also added to or reduced their stakes in the company. Comerica Bank lifted its position in shares of Quanterix by 44,205.6% in 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 period. Quest Partners LLC purchased a new position in shares of Quanterix during the 4th quarter worth approximately $240,000. Canada Pension Plan Investment Board bought a new position in shares of Quanterix in the 2nd quarter worth approximately $140,000. Janney Capital Management LLC purchased a new position in shares of Quanterix in the 1st quarter valued at approximately $259,000. Finally, Hsbc Holdings PLC boosted its position in shares of Quanterix by 34.7% during the second quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock valued at $164,000 after purchasing an additional 3,279 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

Quanterix Trading Down 6.1 %

NASDAQ QTRX opened at $14.54 on Friday. Quanterix Co. has a 12 month low of $10.50 and a 12 month high of $29.70. The stock’s fifty day moving average price is $13.43 and its 200-day moving average price is $16.45. The stock has a market cap of $558.05 million, a P/E ratio of -15.15 and a beta of 1.36.

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

Insider Buying and Selling at Quanterix

In other Quanterix news, Director David R. Walt purchased 47,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average cost of $13.29 per share, with a total value of $624,630.00. Following the completion of the acquisition, the director now directly owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.