JPMorgan Chase & Co. Raises Stock Position in Quanterix Co. (NASDAQ:QTRX)

JPMorgan Chase & Co. grew its stake in shares of Quanterix Co. (NASDAQ:QTRX) by 23.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 270,054 shares of the company’s stock after acquiring an additional 52,097 shares during the period. JPMorgan Chase & Co. owned about 0.70% of Quanterix worth $2,871,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Quanterix by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company’s stock valued at $1,150,000 after purchasing an additional 1,963 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Quanterix by 9.1% during the fourth quarter. American Century Companies Inc. now owns 71,992 shares of the company’s stock valued at $765,000 after buying an additional 6,023 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Quanterix in the fourth quarter valued at about $66,000. Janney Capital Management LLC lifted its stake in Quanterix by 40.9% in the fourth quarter. Janney Capital Management LLC now owns 33,192 shares of the company’s stock worth $353,000 after acquiring an additional 9,639 shares during the period. Finally, Peapack Gladstone Financial Corp bought a new position in Quanterix during the 3rd quarter worth about $131,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Scotiabank reissued an “outperform” rating on shares of Quanterix in a research note on Tuesday, March 25th.

Quanterix Stock Performance

NASDAQ:QTRX opened at $5.16 on Wednesday. The company’s 50-day simple moving average is $6.69 and its 200-day simple moving average is $9.66. Quanterix Co. has a fifty-two week low of $4.67 and a fifty-two week high of $19.18. The stock has a market capitalization of $200.15 million, a P/E ratio of -4.87 and a beta of 1.35.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.93 million. On average, research analysts forecast that Quanterix Co. will post -0.98 EPS for the current year.

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.