Quanterix (NASDAQ:QTRX) Raised to Hold at Wall Street Zen

Quanterix (NASDAQ:QTRX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other brokerages have also recently issued reports on QTRX. Canaccord Genuity Group raised their target price on shares of Quanterix from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quanterix in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.33.

Quanterix Stock Down 2.4%

Quanterix stock opened at $6.46 on Monday. The stock has a 50-day moving average price of $6.34 and a 200 day moving average price of $5.82. The company has a market capitalization of $301.75 million, a price-to-earnings ratio of -2.77 and a beta of 1.01. Quanterix has a 52 week low of $4.05 and a 52 week high of $12.41.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.13). Quanterix had a negative return on equity of 21.34% and a negative net margin of 73.47%.The business had revenue of $40.23 million during the quarter, compared to analyst estimates of $37.85 million. Research analysts anticipate that Quanterix will post -0.98 EPS for the current fiscal year.

Institutional Trading of Quanterix

A number of hedge funds have recently added to or reduced their stakes in QTRX. Intech Investment Management LLC grew its position in Quanterix by 13.4% during the third quarter. Intech Investment Management LLC now owns 19,161 shares of the company’s stock valued at $104,000 after buying an additional 2,268 shares during the period. Jane Street Group LLC raised its position in shares of Quanterix by 4.2% in the first quarter. Jane Street Group LLC now owns 58,313 shares of the company’s stock worth $380,000 after acquiring an additional 2,366 shares during the period. Rhumbline Advisers boosted its stake in shares of Quanterix by 7.2% during the 2nd quarter. Rhumbline Advisers now owns 60,629 shares of the company’s stock worth $403,000 after acquiring an additional 4,094 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Quanterix by 40.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the company’s stock valued at $100,000 after acquiring an additional 4,330 shares during the period. Finally, Quarry LP grew its position in shares of Quanterix by 277,300.0% during the 3rd quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after acquiring an additional 5,546 shares during the period. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.