Wells Fargo & Company MN Cuts Stock Position in Quanterix Co. (NASDAQ:QTRX)

Wells Fargo & Company MN lessened its stake in shares of Quanterix Co. (NASDAQ:QTRX) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,558 shares of the company’s stock after selling 3,011 shares during the period. Wells Fargo & Company MN owned approximately 0.12% of Quanterix worth $495,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QTRX. William Blair Investment Management LLC purchased a new stake in shares of Quanterix during the fourth quarter valued at approximately $11,290,000. Pier Capital LLC lifted its position in Quanterix by 32.8% in the 4th quarter. Pier Capital LLC now owns 679,680 shares of the company’s stock valued at $7,225,000 after acquiring an additional 167,882 shares in the last quarter. Valmark Advisers Inc. boosted its stake in Quanterix by 88.3% during the 4th quarter. Valmark Advisers Inc. now owns 210,878 shares of the company’s stock valued at $2,242,000 after purchasing an additional 98,883 shares during the last quarter. Easterly Investment Partners LLC increased its holdings in shares of Quanterix by 9.0% in the 4th quarter. Easterly Investment Partners LLC now owns 954,995 shares of the company’s stock worth $10,152,000 after purchasing an additional 78,862 shares in the last quarter. Finally, Graypoint LLC purchased a new position in shares of Quanterix in the fourth quarter worth $691,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QTRX. Leerink Partnrs cut shares of Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Scotiabank restated an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th. Leerink Partners reaffirmed a “market perform” rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.20.

Quanterix Trading Up 4.2 %

Shares of QTRX opened at $6.01 on Friday. Quanterix Co. has a 12-month low of $4.67 and a 12-month high of $19.18. The company has a market capitalization of $233.12 million, a PE ratio of -5.67 and a beta of 1.12. The business’s 50 day moving average is $6.35 and its 200 day moving average is $9.32.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. Equities research analysts predict that Quanterix Co. will post -0.98 earnings per share 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.