abrdn plc Buys 103,281 Shares of Quanterix Co. (NASDAQ:QTRX)

abrdn plc lifted its stake in Quanterix Co. (NASDAQ:QTRX) by 163.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 166,398 shares of the company’s stock after acquiring an additional 103,281 shares during the period. abrdn plc owned 0.43% of Quanterix worth $2,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Easterly Investment Partners LLC boosted its holdings in shares of Quanterix by 779.9% during the 2nd quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock worth $9,151,000 after buying an additional 614,012 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Quanterix by 22.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after purchasing an additional 326,876 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of Quanterix by 156.0% in the first quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock worth $11,097,000 after purchasing an additional 287,000 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Quanterix during the 2nd quarter worth about $3,389,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Quanterix by 2,261.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock worth $2,771,000 after purchasing an additional 200,851 shares during the last quarter. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QTRX has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Scotiabank reduced their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. Finally, TD Cowen decreased their price target 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 Trading Up 3.1 %

Shares of NASDAQ:QTRX opened at $13.85 on Tuesday. The business’s 50 day moving average is $12.72 and its 200-day moving average is $14.06. The firm has a market capitalization of $531.56 million, a PE ratio of -13.19 and a beta of 1.36. Quanterix Co. has a 1-year low of $10.50 and a 1-year high of $29.70.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. The business had revenue of $34.38 million during the quarter, compared to analyst estimates of $34.19 million. During the same quarter in the prior year, the company posted ($0.16) EPS. On average, sell-side analysts predict that Quanterix Co. will post -0.88 EPS for the current year.

Insider Transactions at Quanterix

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

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.