Quanterix Co. (NASDAQ:QTRX) Director David R. Walt Purchases 47,000 Shares

Quanterix Co. (NASDAQ:QTRX) Director David R. Walt purchased 47,000 shares of Quanterix stock in a transaction that occurred on Tuesday, August 20th. The shares were bought 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 $19,766,775.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Quanterix Stock Performance

Shares of QTRX stock opened at $15.49 on Friday. The firm has a market cap of $592.80 million, a P/E ratio of -16.14 and a beta of 1.36. Quanterix Co. has a fifty-two week low of $10.50 and a fifty-two week high of $29.70. The business’s 50 day moving average price is $13.43 and its 200-day moving average price is $16.54.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $34.38 million for the quarter, compared to the consensus estimate of $34.19 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. As a group, equities analysts predict that Quanterix Co. will post -0.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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 research report on Tuesday, July 9th. Scotiabank cut their price objective on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. Finally, TD Cowen cut their price objective on Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Investors Weigh In On Quanterix

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Quanterix by 17.4% during the fourth quarter. Russell Investments Group Ltd. now owns 20,046 shares of the company’s stock valued at $548,000 after buying an additional 2,973 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Quanterix by 10.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 295,811 shares of the company’s stock valued at $8,087,000 after buying an additional 28,784 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Quanterix by 70.2% during the fourth quarter. BNP Paribas Financial Markets now owns 51,838 shares of the company’s stock valued at $1,417,000 after buying an additional 21,385 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Quanterix by 15.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after buying an additional 131,195 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Quanterix during the fourth quarter valued at $240,000. 86.48% of the stock is currently owned by institutional investors.

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.