Shares of Quanterix Corp (NASDAQ:QTRX) shot up 23% during mid-day trading on Thursday . The stock traded as high as $24.86 and last traded at $23.73, 574,613 shares traded hands during trading. An increase of 263% from the average session volume of 158,108 shares. The stock had previously closed at $19.29.
Several research firms have recently issued reports on QTRX. ValuEngine cut Quanterix from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of Quanterix in a report on Thursday. BTIG Research set a $35.00 price objective on Quanterix and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Quanterix from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, October 9th.
The stock has a market cap of $511.36 million, a price-to-earnings ratio of -16.37 and a beta of 1.25. The stock has a fifty day moving average of $21.67 and a two-hundred day moving average of $26.06. The company has a quick ratio of 4.91, a current ratio of 5.43 and a debt-to-equity ratio of 0.10.
Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). The firm had revenue of $13.54 million during the quarter, compared to analyst estimates of $11.40 million. Quanterix had a negative return on equity of 74.78% and a negative net margin of 78.07%. Equities research analysts anticipate that Quanterix Corp will post -1.49 EPS for the current fiscal year.
In other Quanterix news, CEO E Kevin Hrusovsky sold 3,362 shares of Quanterix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $25.97, for a total value of $87,311.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Duffy sold 1,667 shares of Quanterix stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $19.88, for a total value of $33,139.96. Insiders sold 101,981 shares of company stock valued at $1,519,894 over the last quarter. Insiders own 30.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of QTRX. Steward Partners Investment Advisory LLC acquired a new position in Quanterix in the second quarter valued at approximately $76,000. Parametric Portfolio Associates LLC acquired a new position in Quanterix in the second quarter valued at approximately $212,000. Royal Bank of Canada boosted its stake in Quanterix by 116.4% in the second quarter. Royal Bank of Canada now owns 6,285 shares of the company’s stock valued at $213,000 after acquiring an additional 3,380 shares during the period. Rhumbline Advisers boosted its stake in Quanterix by 13.1% in the third quarter. Rhumbline Advisers now owns 12,721 shares of the company’s stock valued at $279,000 after acquiring an additional 1,469 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Quanterix by 607.1% in the second quarter. Cubist Systematic Strategies LLC now owns 9,617 shares of the company’s stock valued at $325,000 after acquiring an additional 8,257 shares during the period. Institutional investors own 61.37% of the company’s stock.
Quanterix Company Profile (NASDAQ:QTRX)
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. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.
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