Canaccord Genuity started coverage on shares of Quanterix (NASDAQ:QTRX) in a research note released on Wednesday, The Fly reports. The firm issued a buy rating and a $27.00 target price on the stock.
Separately, Zacks Investment Research upgraded shares of Quanterix from a sell rating to a hold rating in a research report on Tuesday, September 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Quanterix currently has an average rating of Buy and a consensus price target of $26.67.
Quanterix stock traded down $0.31 during midday trading on Wednesday, hitting $17.58. The company’s stock had a trading volume of 39,856 shares, compared to its average volume of 102,698. Quanterix has a 12 month low of $13.00 and a 12 month high of $24.81. The stock has a market cap of $473.37 million and a PE ratio of -2.12.
Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Friday, August 10th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The business had revenue of $8.64 million for the quarter, compared to analysts’ expectations of $7.92 million. Equities research analysts anticipate that Quanterix will post -1.2 EPS for the current fiscal year.
In other Quanterix news, Chairman E Kevin Hrusovsky sold 17,909 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $14.53, for a total transaction of $260,217.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 31.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC raised its holdings in Quanterix by 54.2% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,090,893 shares of the company’s stock worth $15,665,000 after buying an additional 383,602 shares during the period. Royce & Associates LP raised its holdings in Quanterix by 83.6% during the 2nd quarter. Royce & Associates LP now owns 479,000 shares of the company’s stock worth $6,878,000 after buying an additional 218,115 shares during the period. Jennison Associates LLC raised its holdings in Quanterix by 1.8% during the 2nd quarter. Jennison Associates LLC now owns 351,831 shares of the company’s stock worth $5,052,000 after buying an additional 6,170 shares during the period. BlackRock Inc. raised its holdings in Quanterix by 22.1% during the 2nd quarter. BlackRock Inc. now owns 246,466 shares of the company’s stock worth $3,539,000 after buying an additional 44,662 shares during the period. Finally, Bellevue Group AG raised its holdings in Quanterix by 97.5% during the 2nd quarter. Bellevue Group AG now owns 165,480 shares of the company’s stock worth $2,376,000 after buying an additional 81,680 shares during the period. Hedge funds and other institutional investors own 49.14% of the company’s stock.
Quanterix Company Profile
Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.
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