Quanterix Co. (NASDAQ:QTRX) Short Interest Down 19.4% in October

Quanterix Co. (NASDAQ:QTRX) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,990,000 shares, a drop of 19.4% from the October 15th total of 2,470,000 shares. Based on an average trading volume of 395,000 shares, the days-to-cover ratio is currently 5.0 days. Approximately 5.6% of the company’s shares are short sold.

Insider Buying and Selling at Quanterix

In other Quanterix news, Director David R. Walt acquired 47,000 shares of Quanterix stock in a transaction on Tuesday, August 20th. The shares were purchased at an average cost 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 in the company, valued at $19,766,775.18. The trade was a 3.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Quanterix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Quanterix by 772.3% during the second quarter. Harbor Capital Advisors Inc. now owns 83,941 shares of the company’s stock worth $1,109,000 after acquiring an additional 74,318 shares during the period. Emerald Advisers LLC grew its position in Quanterix by 5.6% in the third quarter. Emerald Advisers LLC now owns 719,217 shares of the company’s stock valued at $9,321,000 after purchasing an additional 38,230 shares in the last quarter. Easterly Investment Partners LLC grew its position in Quanterix by 779.9% in the second quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock valued at $9,151,000 after purchasing an additional 614,012 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Quanterix in the second quarter valued at $3,389,000. Finally, Picton Mahoney Asset Management grew its position in Quanterix by 91.7% in 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. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QTRX. Scotiabank cut their target price on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a report on Monday, August 12th. TD Cowen increased their target price on shares of Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a report on Wednesday.

Quanterix Stock Down 3.9 %

Shares of NASDAQ:QTRX opened at $11.92 on Friday. Quanterix has a 12 month low of $10.50 and a 12 month high of $29.70. The company’s fifty day simple moving average is $12.97 and its 200 day simple moving average is $14.01. The firm has a market cap of $457.48 million, a price-to-earnings ratio of -11.35 and a beta of 1.36.

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.