Quanterix Co. (NASDAQ:QTRX) Short Interest Down 19.4% in October

Quanterix Co. (NASDAQ:QTRX) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,990,000 shares, a decrease of 19.4% from the October 15th total of 2,470,000 shares. Based on an average daily volume of 395,000 shares, the days-to-cover ratio is currently 5.0 days. Currently, 5.6% of the company’s shares are sold short.

Quanterix Trading Down 4.0 %

QTRX traded down $0.48 on Friday, reaching $11.44. The company’s stock had a trading volume of 555,932 shares, compared to its average volume of 445,914. Quanterix has a 1 year low of $10.50 and a 1 year high of $29.70. The business’s 50 day moving average is $12.95 and its 200 day moving average is $13.96.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank decreased their target price on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. TD Cowen upped their price target on Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a report on Wednesday.

Insider Buying and Selling

In other Quanterix news, Director David R. Walt purchased 47,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $13.29 per share, with a total value of $624,630.00. Following the transaction, the director now owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. This trade represents a 3.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Quanterix

A number of institutional investors have recently made changes to their positions in QTRX. Geode Capital Management LLC increased its stake in shares of Quanterix by 2.2% in the third quarter. Geode Capital Management LLC now owns 858,667 shares of the company’s stock worth $11,131,000 after buying an additional 18,231 shares during the last quarter. Barclays PLC raised its holdings in Quanterix by 42.3% in the third quarter. Barclays PLC now owns 146,248 shares of the company’s stock valued at $1,896,000 after acquiring an additional 43,447 shares in the last quarter. Pier Capital LLC raised its holdings in Quanterix by 23.5% in the third quarter. Pier Capital LLC now owns 511,798 shares of the company’s stock valued at $6,633,000 after acquiring an additional 97,256 shares in the last quarter. State Street Corp lifted its position in shares of Quanterix by 2.2% during the third quarter. State Street Corp now owns 836,443 shares of the company’s stock worth $10,840,000 after purchasing an additional 18,050 shares during the last quarter. Finally, Portolan Capital Management LLC raised its stake in Quanterix by 31.4% during the third quarter. Portolan Capital Management LLC now owns 2,520,686 shares of the company’s stock valued at $32,668,000 after buying an additional 602,656 shares in the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.

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.