TD Cowen Cuts Quanterix (NASDAQ:QTRX) Price Target to $3.00

Quanterix (NASDAQ:QTRX) had its target price lowered by TD Cowen from $4.00 to $3.00 in a report issued on Tuesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

QTRX has been the subject of a number of other research reports. Weiss Ratings lowered shares of Quanterix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Quanterix from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group reduced their target price on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Quanterix presently has a consensus rating of “Reduce” and an average price target of $3.50.

Quanterix Stock Performance

NASDAQ QTRX opened at $2.86 on Tuesday. The stock’s fifty day moving average is $3.63 and its two-hundred day moving average is $4.09. The firm has a market capitalization of $135.25 million, a P/E ratio of -1.09 and a beta of 1.07. Quanterix has a fifty-two week low of $2.15 and a fifty-two week high of $8.77.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, August 10th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.63). Quanterix had a negative net margin of 80.25% and a negative return on equity of 24.77%. The company had revenue of $32.91 million during the quarter, compared to analysts’ expectations of $37.48 million.

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Quanterix by 26.3% during the 1st quarter. Royal Bank of Canada now owns 170,745 shares of the company’s stock worth $1,112,000 after purchasing an additional 35,509 shares during the period. AQR Capital Management LLC raised its holdings in Quanterix by 204.4% in the 1st quarter. AQR Capital Management LLC now owns 98,990 shares of the company’s stock valued at $644,000 after buying an additional 66,470 shares during the period. Goldman Sachs Group Inc. raised its holdings in Quanterix by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 349,696 shares of the company’s stock valued at $2,277,000 after buying an additional 59,655 shares during the period. Jane Street Group LLC raised its holdings in Quanterix by 4.2% in the 1st quarter. Jane Street Group LLC now owns 58,313 shares of the company’s stock valued at $380,000 after buying an additional 2,366 shares during the period. Finally, Geode Capital Management LLC lifted its position in Quanterix by 2.4% in the second quarter. Geode Capital Management LLC now owns 887,080 shares of the company’s stock valued at $5,900,000 after buying an additional 21,210 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

About Quanterix

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.