Brokerages Set Quanterix Corporation (NASDAQ:QTRX) PT at $11.75

Shares of Quanterix Corporation (NASDAQ:QTRX) have been given an average rating of “Hold” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $11.75.

Several analysts recently weighed in on QTRX shares. Canaccord Genuity Group restated a “hold” rating and issued a $5.00 price objective (down from $12.00) on shares of Quanterix in a report on Monday, August 11th. Wall Street Zen downgraded Quanterix from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Quanterix Price Performance

QTRX stock opened at $4.55 on Wednesday. The business has a 50-day moving average price of $5.44 and a 200 day moving average price of $5.86. The company has a market capitalization of $211.44 million, a P/E ratio of -2.50 and a beta of 1.03. Quanterix has a 1-year low of $4.05 and a 1-year high of $15.85.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.06). The firm had revenue of $24.48 million during the quarter, compared to the consensus estimate of $29.73 million. Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. Quanterix has set its FY 2025 guidance at EPS. On average, analysts anticipate that Quanterix will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David R. Walt bought 123,990 shares of Quanterix stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $6.14 per share, for a total transaction of $761,298.60. Following the completion of the acquisition, the director owned 1,866,933 shares of the company’s stock, valued at $11,462,968.62. This trade represents a 7.11% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought 238,131 shares of company stock valued at $1,402,860 in the last ninety days. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Quanterix

A number of large investors have recently added to or reduced their stakes in QTRX. State of Wyoming bought a new position in Quanterix in the first quarter worth about $47,000. Tower Research Capital LLC TRC raised its holdings in Quanterix by 219.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock worth $61,000 after purchasing an additional 3,915 shares in the last quarter. Quantbot Technologies LP raised its holdings in Quanterix by 245.9% in the first quarter. Quantbot Technologies LP now owns 11,272 shares of the company’s stock worth $73,000 after purchasing an additional 8,013 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in Quanterix in the first quarter worth about $79,000. Finally, HUB Investment Partners LLC bought a new position in Quanterix in the second quarter worth about $81,000. 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.