Quanterix (NASDAQ:QTRX – Free Report) had its price target lowered by Canaccord Genuity Group from $4.00 to $3.00 in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has a hold rating on the stock.
A number of other equities analysts also recently commented on QTRX. Wall Street Zen downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. TD Cowen dropped their target price on Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quanterix in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $3.00.
Read Our Latest Stock Report on QTRX
Quanterix Stock Performance
Quanterix (NASDAQ:QTRX – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.63). Quanterix had a negative return on equity of 26.09% and a negative net margin of 80.25%.The business had revenue of $32.91 million during the quarter, compared to analysts’ expectations of $37.48 million.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in Quanterix during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Quanterix in the fourth quarter worth $27,000. Quarry LP grew its holdings in Quanterix by 277,300.0% in the third quarter. Quarry LP now owns 5,548 shares of the company’s stock worth $30,000 after purchasing an additional 5,546 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Quanterix during the fourth quarter worth $70,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Quanterix during the fourth quarter worth $75,000. Institutional investors own 86.48% of the company’s stock.
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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