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

Shares of 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.

Analysts Set New Price Targets

A number of brokerages have commented on QTRX. Scotiabank raised their price objective on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Canaccord Genuity Group cut their target price on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $30.60.

Quanterix Trading Down 8.8 %

The stock has a market cap of $605.50 million, a price-to-earnings ratio of -18.53 and a beta of 1.41. The firm has a fifty day simple moving average of $21.51 and a 200-day simple moving average of $23.14.

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

Insider Buying and Selling at Quanterix

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of Quanterix stock in a transaction 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 owns 15,238 shares of the company’s stock, valued at approximately $371,045.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Quanterix

Institutional investors have recently modified their holdings of the stock. Gotham Asset Management LLC acquired a new position in Quanterix during the third quarter valued at approximately $423,000. Lord Abbett & CO. LLC acquired a new position in Quanterix in the third quarter valued at about $27,744,000. Strs Ohio increased its holdings in shares of Quanterix by 5.7% in the fourth quarter. Strs Ohio now owns 18,400 shares of the company’s stock worth $503,000 after acquiring an additional 1,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Quanterix by 1.4% during the third quarter. Vanguard Group Inc. now owns 1,997,295 shares of the company’s stock worth $54,207,000 after purchasing an additional 26,660 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of Quanterix by 353.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 313,044 shares of the company’s stock worth $8,496,000 after purchasing an additional 243,994 shares during the period. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Company Profile

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.