Ashford Capital Management Inc. Sells 189,585 Shares of Quanterix Co. (NASDAQ:QTRX)

Ashford Capital Management Inc. decreased its position in shares of Quanterix Co. (NASDAQ:QTRX) by 25.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 544,530 shares of the company’s stock after selling 189,585 shares during the quarter. Ashford Capital Management Inc.’s holdings in Quanterix were worth $5,788,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Quanterix by 111.3% during the fourth quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock worth $34,079,000 after purchasing an additional 1,688,680 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Quanterix during the 4th quarter valued at approximately $11,290,000. Pier Capital LLC lifted its stake in shares of Quanterix by 32.8% during the 4th quarter. Pier Capital LLC now owns 679,680 shares of the company’s stock valued at $7,225,000 after buying an additional 167,882 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in Quanterix by 39.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company’s stock worth $5,012,000 after buying an additional 134,470 shares during the period. Finally, Millennium Management LLC grew its stake in Quanterix by 6.0% in the 4th quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock valued at $23,228,000 after buying an additional 122,969 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on QTRX shares. Scotiabank restated an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th. Leerink Partners reissued a “market perform” rating and set a $8.00 price objective (down previously from $12.00) on shares of Quanterix in a report on Wednesday, April 30th. Leerink Partnrs downgraded Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group decreased their price target on Quanterix from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.60.

Quanterix Stock Performance

Quanterix stock opened at $4.87 on Tuesday. Quanterix Co. has a fifty-two week low of $4.05 and a fifty-two week high of $19.18. The stock has a market cap of $189.10 million, a P/E ratio of -4.59 and a beta of 1.12. The firm’s fifty day moving average price is $5.83 and its 200-day moving average price is $8.71.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.16. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The business had revenue of $30.33 million during the quarter, compared to analysts’ expectations of $28.27 million. Sell-side analysts predict that Quanterix Co. will post -0.98 earnings per share for the current year.

Quanterix 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.