Allspring Global Investments Holdings LLC Takes Position in Quanterix Corporation (NASDAQ:QTRX)

Allspring Global Investments Holdings LLC purchased a new stake in Quanterix Corporation (NASDAQ:QTRX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,074 shares of the company’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Valmark Advisers Inc. increased its stake in shares of Quanterix by 16.1% in the first quarter. Valmark Advisers Inc. now owns 244,854 shares of the company’s stock valued at $1,594,000 after buying an additional 33,976 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Quanterix by 2.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 520,869 shares of the company’s stock worth $5,537,000 after purchasing an additional 10,111 shares during the period. Williams Jones Wealth Management LLC. grew its stake in Quanterix by 39.9% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company’s stock worth $5,012,000 after purchasing an additional 134,470 shares during the period. Two Sigma Advisers LP grew its stake in Quanterix by 35.9% during the fourth quarter. Two Sigma Advisers LP now owns 36,748 shares of the company’s stock worth $391,000 after purchasing an additional 9,700 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Quanterix during the fourth quarter worth approximately $606,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on QTRX shares. Wall Street Zen cut Quanterix from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Quanterix in a research note on Tuesday, March 25th. Canaccord Genuity Group decreased their target price on Quanterix from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Leerink Partnrs cut Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.50.

Quanterix Stock Performance

Shares of Quanterix stock opened at $5.89 on Friday. Quanterix Corporation has a 52 week low of $4.05 and a 52 week high of $16.74. The stock has a 50 day moving average price of $5.72 and a two-hundred day moving average price of $7.04. The stock has a market capitalization of $294.21 million, a PE ratio of -4.53 and a beta of 1.13.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.16. Quanterix had a negative return on equity of 15.07% and a negative net margin of 36.82%. The company had revenue of $30.33 million for the quarter, compared to analyst estimates of $28.27 million. Research analysts forecast that Quanterix Corporation will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other news, Director William P. Donnelly bought 93,113 shares of the stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of $5.44 per share, for a total transaction of $506,534.72. Following the completion of the purchase, the director directly owned 139,094 shares in the company, valued at $756,671.36. This represents a 202.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David R. Walt bought 123,990 shares of the stock in a transaction on Friday, June 13th. The stock was purchased at an average price of $6.14 per share, for a total transaction of $761,298.60. Following the completion of the purchase, the director owned 1,866,933 shares of the company’s stock, valued at approximately $11,462,968.62. This trade represents a 7.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 463,113 shares of company stock worth $2,625,444 over the last quarter. 6.90% of the stock is currently owned by corporate insiders.

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.