Quanterix (NASDAQ:QTRX) Trading Down 3.6%

Quanterix Co. (NASDAQ:QTRX)’s share price dropped 3.6% on Wednesday . The company traded as low as $15.52 and last traded at $15.52. Approximately 45,270 shares were traded during trading, a decline of 87% from the average daily volume of 343,587 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their price target on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $32.00.

Quanterix Price Performance

The company has a 50 day moving average price of $23.16 and a 200 day moving average price of $23.46.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $31.55 million during the quarter, compared to analyst estimates of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. Analysts anticipate that Quanterix Co. will post -1.04 earnings per share for the current year.

Insider Activity at Quanterix

In related news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now owns 15,238 shares of the company’s stock, valued at approximately $371,045.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Quanterix

Several hedge funds have recently modified their holdings of the company. Swiss National Bank lifted its position in shares of Quanterix by 1.0% during the 3rd quarter. Swiss National Bank now owns 78,200 shares of the company’s stock worth $2,122,000 after buying an additional 800 shares in the last quarter. Strs Ohio lifted its position in shares of Quanterix by 5.7% during the 4th quarter. Strs Ohio now owns 18,400 shares of the company’s stock worth $503,000 after buying an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Quanterix by 7.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,469 shares of the company’s stock worth $447,000 after buying an additional 1,118 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Quanterix by 14.2% during the 3rd quarter. Principal Financial Group Inc. now owns 11,882 shares of the company’s stock worth $322,000 after buying an additional 1,481 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Quanterix by 17.3% in the 3rd quarter. Barclays PLC now owns 15,911 shares of the company’s stock worth $433,000 after purchasing an additional 2,342 shares during the period. 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.