Quanterix Co. (NASDAQ:QTRX) Sees Large Growth in Short Interest

Quanterix Co. (NASDAQ:QTRXGet Rating) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,370,000 shares, a growth of 21.2% from the March 31st total of 1,130,000 shares. Based on an average daily trading volume, of 307,800 shares, the short-interest ratio is presently 4.5 days. Approximately 4.1% of the company’s shares are short sold.

Shares of QTRX stock opened at $23.76 on Thursday. The business’s fifty day simple moving average is $27.33 and its 200-day simple moving average is $35.74. The company has a market cap of $875.48 million, a PE ratio of -14.85 and a beta of 1.59. Quanterix has a 12-month low of $21.13 and a 12-month high of $69.22.

Quanterix (NASDAQ:QTRXGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.11. The business had revenue of $29.31 million for the quarter, compared to the consensus estimate of $29.00 million. Quanterix had a negative return on equity of 12.58% and a negative net margin of 52.18%. During the same period in the prior year, the firm posted ($0.31) earnings per share. As a group, sell-side analysts forecast that Quanterix will post -2.26 earnings per share for the current year.

A number of analysts recently issued reports on the company. SVB Leerink lowered their price target on Quanterix from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Zacks Investment Research raised shares of Quanterix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 26th. The Goldman Sachs Group reduced their price objective on shares of Quanterix from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Quanterix from $85.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $54.60.

In related news, SVP David C. Duffy sold 3,266 shares of the business’s stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $30.00, for a total value of $97,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO E Kevin Hrusovsky sold 868 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $29.79, for a total value of $25,857.72. Following the completion of the sale, the chief executive officer now owns 886,976 shares of the company’s stock, valued at approximately $26,423,015.04. The disclosure for this sale can be found here. Insiders have sold 11,889 shares of company stock valued at $363,224 in the last 90 days. Company insiders own 15.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTRX. Citigroup Inc. lifted its position in Quanterix by 93.9% during the 3rd quarter. Citigroup Inc. now owns 4,045 shares of the company’s stock worth $201,000 after acquiring an additional 1,959 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of Quanterix during the first quarter worth about $219,000. Teacher Retirement System of Texas acquired a new stake in shares of Quanterix during the third quarter worth about $227,000. Spearhead Capital Advisors LLC lifted its holdings in shares of Quanterix by 31.0% during the first quarter. Spearhead Capital Advisors LLC now owns 8,557 shares of the company’s stock worth $250,000 after purchasing an additional 2,024 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Quanterix during the third quarter worth about $260,000. 86.46% of the stock is currently owned by hedge funds and other institutional investors.

About Quanterix (Get Rating)

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. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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