Canaccord Genuity Group Trims Quanterix (NASDAQ:QTRX) Target Price to $25.00

Quanterix (NASDAQ:QTRX) had its target price trimmed by Canaccord Genuity Group from $32.00 to $25.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Scotiabank upped their price target on shares of Quanterix from $30.00 to $32.00 and gave the stock a sector outperform rating in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $30.60.

Quanterix Trading Up 2.3 %

Shares of NASDAQ:QTRX opened at $16.49 on Monday. The company has a 50 day moving average of $22.14 and a 200-day moving average of $23.20. The firm has a market cap of $630.74 million, a P/E ratio of -19.17 and a beta of 1.30. Quanterix has a twelve month low of $12.17 and a twelve month high of $29.70.

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

Insider Activity at Quanterix

In related news, Director Laurie J. Olson sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the sale, the director now directly owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Quanterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Quanterix by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,997,295 shares of the company’s stock valued at $54,207,000 after acquiring an additional 26,660 shares in the last quarter. Invesco Ltd. increased its stake in Quanterix by 49.6% in the 3rd quarter. Invesco Ltd. now owns 1,103,981 shares of the company’s stock valued at $29,962,000 after buying an additional 366,117 shares during the period. Lord Abbett & CO. LLC acquired a new position in Quanterix in the 3rd quarter valued at approximately $27,744,000. Dimensional Fund Advisors LP increased its stake in Quanterix by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after buying an additional 131,195 shares during the period. Finally, Boone Capital Management LLC increased its stake in Quanterix by 13.4% in the 3rd quarter. Boone Capital Management LLC now owns 568,544 shares of the company’s stock valued at $15,430,000 after buying an additional 67,400 shares during the period. 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.