Quanterix (NASDAQ:QTRX) Price Target Raised to $4.00

Quanterix (NASDAQ:QTRX) had its price target hoisted by TD Cowen from $3.50 to $4.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a hold rating on the stock.

QTRX has been the subject of a number of other research reports. Canaccord Genuity Group decreased their target price on Quanterix from $4.00 to $3.00 and set a “hold” rating for the company in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quanterix in a report on Wednesday, November 4th. Finally, Wall Street Zen cut shares of Quanterix from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Quanterix has an average rating of “Reduce” and a consensus target price of $3.50.

Quanterix Stock Performance

Shares of NASDAQ:QTRX opened at $2.86 on Tuesday. Quanterix has a 1 year low of $2.15 and a 1 year high of $8.77. The stock’s 50-day moving average is $3.04 and its 200 day moving average is $3.72.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Quanterix had a negative net margin of 75.05% and a negative return on equity of 30.49%. The business had revenue of $34.97 million for the quarter, compared to the consensus estimate of $33.85 million.

Institutional Trading of Quanterix

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Quanterix during the 2nd quarter valued at $15,705,000. Levin Capital Strategies L.P. bought a new stake in Quanterix during the 1st quarter worth approximately $5,153,000. Empire Financial Management Company LLC boosted its holdings in Quanterix by 19.1% in the 1st quarter. Empire Financial Management Company LLC now owns 736,068 shares of the company’s stock worth $2,591,000 after buying an additional 118,238 shares during the period. GSA Capital Partners LLP bought a new position in shares of Quanterix in the second quarter worth about $1,772,000. Finally, Dimensional Fund Advisors LP grew its holdings in Quanterix by 13.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 443,118 shares of the company’s stock valued at $1,559,000 after buying an additional 53,652 shares in the last quarter. 86.48% of the stock is currently owned by institutional investors.

About Quanterix

Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other molecules at very low concentrations, supporting research into disease biology, diagnosis, treatment response and drug development. The company’s principal technology, Simoa, uses digital detection methods to improve the sensitivity of immunoassays.