Quanterix Corporation (NASDAQ:QTRX) Receives Consensus Recommendation of “Hold” from Analysts

Quanterix Corporation (NASDAQ:QTRX) has been given an average rating of “Hold” by the five research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.50.

Several brokerages have issued reports on QTRX. Leerink Partnrs cut shares of Quanterix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Leerink Partners reaffirmed a “market perform” rating and issued a $8.00 target price (down from $12.00) on shares of Quanterix in a report on Wednesday, April 30th. Canaccord Genuity Group decreased their price objective on shares of Quanterix from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Scotiabank reissued an “outperform” rating on shares of Quanterix in a report on Tuesday, March 25th. Finally, Wall Street Zen cut shares of Quanterix from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Quanterix Stock Up 2.7%

Shares of Quanterix stock opened at $6.05 on Tuesday. The firm has a market cap of $302.20 million, a PE ratio of -4.65 and a beta of 1.13. Quanterix has a 12-month low of $4.05 and a 12-month high of $16.74. The company’s fifty day simple moving average is $5.72 and its two-hundred day simple moving average is $7.01.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.16. Quanterix had a negative net margin of 36.82% and a negative return on equity of 15.07%. The business had revenue of $30.33 million for the quarter, compared to analyst estimates of $28.27 million. As a group, sell-side analysts expect that Quanterix will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Quanterix

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

Institutional Investors Weigh In On Quanterix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 1,963 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Quanterix by 4.2% during the 1st quarter. Jane Street Group LLC now owns 58,313 shares of the company’s stock valued at $380,000 after acquiring an additional 2,366 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Quanterix by 219.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock valued at $61,000 after acquiring an additional 3,915 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Quanterix by 25.8% during the 4th quarter. Hsbc Holdings PLC now owns 19,371 shares of the company’s stock valued at $205,000 after acquiring an additional 3,974 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Quanterix by 64.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company’s stock valued at $108,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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.