Levin Capital Strategies L.P. Makes New Investment in Quanterix Corporation $QTRX

Levin Capital Strategies L.P. bought a new stake in Quanterix Corporation (NASDAQ:QTRX) during the first quarter, Holdings Channel.com reports. The firm bought 1,464,052 shares of the company’s stock, valued at approximately $5,153,000.

Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Quanterix by 14.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,236,877 shares of the company’s stock worth $28,175,000 after purchasing an additional 521,639 shares during the period. Vanguard Group Inc. increased its position in shares of Quanterix by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,647,515 shares of the company’s stock worth $14,376,000 after purchasing an additional 118,565 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Quanterix by 55.6% in the 4th quarter. William Blair Investment Management LLC now owns 2,046,449 shares of the company’s stock valued at $13,015,000 after buying an additional 731,169 shares during the period. Invenomic Capital Management LP raised its holdings in Quanterix by 8.1% in the 4th quarter. Invenomic Capital Management LP now owns 1,505,208 shares of the company’s stock valued at $9,573,000 after buying an additional 112,203 shares during the period. Finally, Millennium Management LLC lifted its position in Quanterix by 9,880.2% in the third quarter. Millennium Management LLC now owns 1,209,199 shares of the company’s stock valued at $6,566,000 after buying an additional 1,197,083 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Trading Down 3.3%

Quanterix stock opened at $3.84 on Thursday. The firm has a market capitalization of $180.90 million, a P/E ratio of -1.63 and a beta of 1.04. Quanterix Corporation has a twelve month low of $2.39 and a twelve month high of $8.77. The stock’s fifty day simple moving average is $3.47 and its 200-day simple moving average is $4.49.

Quanterix (NASDAQ:QTRX) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.12. Quanterix had a negative return on equity of 23.92% and a negative net margin of 71.86%.The firm had revenue of $35.90 million during the quarter, compared to analyst estimates of $36.84 million.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, April 20th. TD Cowen lowered their price objective on shares of Quanterix from $7.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Weiss Ratings cut shares of Quanterix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $4.00.

Quanterix 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.