Quanterix (NASDAQ:QTRX) Trading Down 3.6% – Here’s What Happened

Shares of Quanterix Corporation (NASDAQ:QTRX) fell 3.6% during mid-day trading on Tuesday . The company traded as low as $6.64 and last traded at $6.66. Approximately 1,402,744 shares were traded during mid-day trading, an increase of 124% from the average daily volume of 625,595 shares. The stock had previously closed at $6.91.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QTRX. Wall Street Zen raised Quanterix from a “sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quanterix in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group lifted their price target on shares of Quanterix from $5.00 to $8.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Quanterix has an average rating of “Hold” and an average price target of $11.33.

Quanterix Price Performance

The firm has a market capitalization of $311.09 million, a PE ratio of -2.86 and a beta of 1.00. The company has a 50-day moving average price of $6.99 and a 200 day moving average price of $5.90.

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

Institutional Trading of Quanterix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC bought a new stake in shares of Quanterix in the fourth quarter worth about $26,000. Quarry LP raised its stake in Quanterix by 277,300.0% during the third quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after purchasing an additional 5,546 shares in the last quarter. R Squared Ltd bought a new position in Quanterix during the third quarter valued at $64,000. HUB Investment Partners LLC purchased a new position in shares of Quanterix in the 2nd quarter worth $81,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Quanterix during the 2nd quarter valued at about $96,000. 86.48% of the stock is currently owned by institutional investors.

Quanterix Company Profile

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.