Squarepoint Ops LLC Sells 43,428 Shares of Quanterix Co. (NASDAQ:QTRX)

Squarepoint Ops LLC lessened its stake in shares of Quanterix Co. (NASDAQ:QTRX) by 63.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,853 shares of the company’s stock after selling 43,428 shares during the period. Squarepoint Ops LLC owned 0.06% of Quanterix worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Quanterix by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,916 shares of the company’s stock valued at $941,000 after buying an additional 1,186 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Quanterix by 11.0% in 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 period. Hsbc Holdings PLC raised its position in Quanterix by 34.7% in 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. State Board of Administration of Florida Retirement System raised its position in Quanterix by 42.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the company’s stock worth $338,000 after purchasing an additional 4,250 shares during the period. Finally, American Century Companies Inc. raised its position in Quanterix by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 56,145 shares of the company’s stock worth $742,000 after purchasing an additional 7,118 shares during the period. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanterix Price Performance

Shares of QTRX opened at $11.76 on Friday. The firm has a market capitalization of $451.35 million, a PE ratio of -11.20 and a beta of 1.36. Quanterix Co. has a 1-year low of $10.50 and a 1-year high of $29.70. The company’s fifty day moving average price is $12.64 and its 200-day moving average price is $15.01.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company 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 firm earned ($0.16) earnings per share. As a group, research analysts anticipate that Quanterix Co. will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David R. Walt acquired 47,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the transaction, the director now owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on QTRX shares. Scotiabank reduced their price objective on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group reduced their target price on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, TD Cowen reduced their target price on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, August 9th.

Quanterix 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.