David R. Walt Acquires 78,131 Shares of Quanterix Co. (NASDAQ:QTRX) Stock

Quanterix Co. (NASDAQ:QTRX) Director David R. Walt acquired 78,131 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were bought at an average price of $5.34 per share, for a total transaction of $417,219.54. Following the purchase, the director now directly owns 1,706,933 shares of the company’s stock, valued at approximately $9,115,022.22. This trade represents a 4.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Quanterix Trading Up 30.0%

QTRX stock opened at $6.58 on Wednesday. Quanterix Co. has a one year low of $4.05 and a one year high of $19.18. The firm has a 50-day moving average of $5.29 and a two-hundred day moving average of $7.86. The firm has a market capitalization of $255.49 million, a PE ratio of -6.21 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QTRX shares. Leerink Partnrs lowered Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Scotiabank restated an “outperform” rating on shares of Quanterix in a report on Tuesday, March 25th. Leerink Partners reaffirmed a “market perform” rating and set a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Wall Street Zen lowered Quanterix from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group cut their price target on shares of Quanterix from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Quanterix currently has a consensus rating of “Hold” and a consensus price target of $15.60.

Institutional Trading of Quanterix

Hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in shares of Quanterix by 42.3% in the third quarter. Barclays PLC now owns 146,248 shares of the company’s stock worth $1,896,000 after buying an additional 43,447 shares during the period. Tallon Kerry Patrick purchased a new stake in Quanterix in the 4th quarter worth about $169,000. abrdn plc boosted its position in Quanterix by 24.4% during the 4th quarter. abrdn plc now owns 206,923 shares of the company’s stock worth $2,200,000 after acquiring an additional 40,525 shares during the period. Valmark Advisers Inc. boosted its position in Quanterix by 88.3% during the 4th quarter. Valmark Advisers Inc. now owns 210,878 shares of the company’s stock worth $2,242,000 after acquiring an additional 98,883 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Quanterix by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company’s stock valued at $1,150,000 after acquiring an additional 1,963 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Quanterix Company 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.