Quanterix (NASDAQ:QTRX) Hits New 12-Month Low at $14.26

Quanterix Co. (NASDAQ:QTRX) reached a new 52-week low on Wednesday . The company traded as low as $14.26 and last traded at $16.32, with a volume of 152448 shares. The stock had previously closed at $17.36.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QTRX. Canaccord Genuity Group cut their target price on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Scotiabank increased their price objective on Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $30.60.

Quanterix Stock Performance

The firm has a market capitalization of $654.79 million, a PE ratio of -19.91 and a beta of 1.41. The business’s 50 day moving average is $21.23 and its two-hundred day moving average is $23.05.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. The company had revenue of $31.55 million for the quarter, compared to the consensus estimate of $27.92 million. As a group, equities research analysts predict that Quanterix Co. will post -1.04 EPS for the current year.

Insider Activity

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $24.35, for a total value of $36,525.00. Following the completion of the transaction, the director now directly 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 can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QTRX. Vanguard Group Inc. grew its stake in Quanterix by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,997,295 shares of the company’s stock worth $54,207,000 after buying an additional 26,660 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Quanterix by 22.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after acquiring an additional 326,876 shares in the last quarter. Invesco Ltd. increased its stake in Quanterix by 49.6% in the third quarter. Invesco Ltd. now owns 1,103,981 shares of the company’s stock valued at $29,962,000 after acquiring an additional 366,117 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Quanterix by 15.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after purchasing an additional 131,195 shares in the last quarter. Finally, Boone Capital Management LLC lifted its stake in Quanterix by 13.4% during the third quarter. Boone Capital Management LLC now owns 568,544 shares of the company’s stock worth $15,430,000 after purchasing an additional 67,400 shares during the last quarter. 86.48% of the stock is currently owned by institutional investors.

About Quanterix

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.