Rhumbline Advisers Cuts Stock Position in Quanterix Co. (NASDAQ:QTRX)

Rhumbline Advisers lessened its holdings in Quanterix Co. (NASDAQ:QTRX) by 10.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 60,444 shares of the company’s stock after selling 7,112 shares during the period. Rhumbline Advisers owned 0.16% of Quanterix worth $798,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. CIBC Asset Management Inc purchased a new stake in Quanterix in the 2nd quarter worth $210,000. Valmark Advisers Inc. grew its position in shares of Quanterix by 36.3% during the second quarter. Valmark Advisers Inc. now owns 113,023 shares of the company’s stock valued at $1,493,000 after purchasing an additional 30,110 shares in the last quarter. Picton Mahoney Asset Management grew its position in shares of Quanterix by 91.7% during the second quarter. Picton Mahoney Asset Management now owns 165,076 shares of the company’s stock valued at $2,180,000 after purchasing an additional 78,984 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Quanterix by 11.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,261 shares of the company’s stock valued at $188,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Quanterix by 14.2% during the second quarter. Bank of New York Mellon Corp now owns 132,100 shares of the company’s stock valued at $1,745,000 after purchasing an additional 16,395 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Quanterix Price Performance

Shares of NASDAQ QTRX opened at $13.89 on Tuesday. The company has a market cap of $531.57 million, a P/E ratio of -14.47 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 firm has a 50-day simple moving average of $13.41 and a two-hundred day simple moving average of $16.18.

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 the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $34.38 million during the quarter, compared to the consensus estimate 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 business earned ($0.16) EPS. As a group, equities research analysts expect that Quanterix Co. will post -0.88 EPS for the current year.

Insider Activity

In related news, Director David R. Walt purchased 47,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average price of $13.29 per share, with a total value of $624,630.00. Following the completion of the purchase, the director now owns 1,487,342 shares of the company’s stock, valued at approximately $19,766,775.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

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

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.