Quanterix (NASDAQ:QTRX) Shares Down 7.5%

Quanterix Co. (NASDAQ:QTRX)’s stock price fell 7.5% during trading on Friday . The company traded as low as $18.43 and last traded at $18.45. 237,636 shares traded hands during trading, a decline of 28% from the average session volume of 331,296 shares. The stock had previously closed at $19.95.

Analysts Set New Price Targets

Separately, Scotiabank increased their target price on Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanterix presently has an average rating of “Buy” and an average price target of $32.00.

Quanterix Trading Down 7.9 %

The business has a 50 day simple moving average of $24.44 and a two-hundred day simple moving average of $24.06.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $31.55 million during the quarter, compared to analysts’ expectations of $27.92 million. Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. As a group, sell-side analysts expect that Quanterix Co. will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Quanterix

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now directly owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QTRX. Public Employees Retirement System of Ohio acquired a new position in Quanterix in the first quarter worth about $29,000. US Bancorp DE raised its holdings in shares of Quanterix by 35.6% during the second quarter. US Bancorp DE now owns 1,709 shares of the company’s stock valued at $39,000 after buying an additional 449 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Quanterix by 974.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,890 shares of the company’s stock valued at $40,000 after buying an additional 2,621 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Quanterix during the second quarter valued at approximately $47,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Quanterix by 73.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock valued at $53,000 after buying an additional 784 shares during the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

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.