Quanterix Co. (NASDAQ:QTRX) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Quanterix Co. (NASDAQ:QTRX) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 384,600 shares of the company’s stock after selling 40,786 shares during the quarter. Renaissance Technologies LLC’s holdings in Quanterix were worth $5,081,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC increased its stake in Quanterix by 22.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after buying an additional 326,876 shares during the period. Superstring Capital Management LP purchased a new stake in shares of Quanterix during the fourth quarter worth $1,962,000. Williams Jones Wealth Management LLC. acquired a new stake in shares of Quanterix in the first quarter valued at $1,327,000. Easterly Investment Partners LLC raised its stake in shares of Quanterix by 551.1% in the first quarter. Easterly Investment Partners LLC now owns 78,734 shares of the company’s stock valued at $1,855,000 after acquiring an additional 66,642 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Quanterix by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after purchasing an additional 131,195 shares during the period. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Insider Activity at Quanterix

In related news, Director David R. Walt purchased 47,000 shares of Quanterix stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $13.29 per share, with a total value of $624,630.00. Following the completion of the transaction, the director now directly owns 1,487,342 shares in the company, valued at $19,766,775.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.90% of the company’s stock.

Quanterix Price Performance

Shares of NASDAQ QTRX opened at $12.73 on Friday. Quanterix Co. has a 1 year low of $10.50 and a 1 year high of $29.70. The company has a market capitalization of $487.18 million, a price-to-earnings ratio of -13.26 and a beta of 1.36. The business has a 50-day moving average of $13.23 and a two-hundred day moving average of $15.96.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results 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 period last year, the company earned ($0.16) earnings per share. As a group, equities research analysts expect that Quanterix Co. will post -0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QTRX. TD Cowen cut their price target on Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group cut their target price 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. Finally, Scotiabank decreased their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research note on Monday, August 12th.

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.