Quanterix Corporation (NASDAQ:QTRX – Get Free Report) shares were down 6.8% during mid-day trading on Tuesday . The stock traded as low as $3.97 and last traded at $4.00. Approximately 503,788 shares were traded during trading, a decline of 55% from the average daily volume of 1,114,123 shares. The stock had previously closed at $4.29.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on QTRX shares. Canaccord Genuity Group cut their target price on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. TD Cowen decreased their price target on shares of Quanterix from $7.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut Quanterix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.00.
Read Our Latest Analysis on QTRX
Quanterix Price Performance
Quanterix (NASDAQ:QTRX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.12. Quanterix had a negative net margin of 71.86% and a negative return on equity of 23.92%. The company had revenue of $35.90 million during the quarter, compared to the consensus estimate of $36.84 million.
Institutional Trading of Quanterix
A number of hedge funds and other institutional investors have recently bought and sold shares of QTRX. Invenomic Capital Management LP boosted its position in shares of Quanterix by 21.7% during the 3rd quarter. Invenomic Capital Management LP now owns 1,393,005 shares of the company’s stock worth $7,564,000 after acquiring an additional 248,101 shares in the last quarter. Ironwood Investment Management LLC raised its position in shares of Quanterix by 811.3% during the 3rd quarter. Ironwood Investment Management LLC now owns 194,074 shares of the company’s stock worth $1,054,000 after acquiring an additional 172,777 shares in the last quarter. Portolan Capital Management LLC raised its position in shares of Quanterix by 17.2% during the 3rd quarter. Portolan Capital Management LLC now owns 4,259,851 shares of the company’s stock worth $23,131,000 after acquiring an additional 626,229 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Quanterix during the 4th quarter worth about $3,380,000. Finally, William Blair Investment Management LLC lifted its stake in Quanterix by 55.6% during the fourth quarter. William Blair Investment Management LLC now owns 2,046,449 shares of the company’s stock worth $13,015,000 after purchasing an additional 731,169 shares during the last quarter. 86.48% of the stock is currently owned by institutional investors and hedge funds.
About Quanterix
Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.
The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.
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