Quanterix (NASDAQ:QTRX) Trading Down 3.6%

Quanterix Co. (NASDAQ:QTRX) traded down 3.6% on Tuesday . The stock traded as low as $21.56 and last traded at $21.67. 36,582 shares traded hands during trading, a decline of 89% from the average session volume of 320,848 shares. The stock had previously closed at $22.47.

Analysts Set New Price Targets

Separately, Scotiabank boosted their price objective on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 4th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Quanterix presently has a consensus rating of “Buy” and an average price target of $32.00.

Quanterix Stock Up 4.7 %

The stock has a market cap of $872.72 million, a P/E ratio of -26.66 and a beta of 1.31. The business has a 50 day moving average price of $24.78 and a 200 day moving average price of $24.39.

Quanterix (NASDAQ:QTRX) last released its earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). The business had revenue of $31.55 million for the quarter, compared to the consensus estimate of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. On average, research analysts expect that Quanterix Co. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Quanterix

In related news, Director Laurie J. Olson sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the completion of the sale, the director now owns 15,238 shares in the company, valued at $371,045.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by company insiders.

Institutional Trading of Quanterix

A number of hedge funds have recently bought and sold shares of QTRX. Advisor Group Holdings Inc. lifted its holdings in Quanterix by 184.6% during the first quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after buying an additional 574 shares during the period. JPMorgan Chase & Co. lifted its holdings in Quanterix by 1.2% during the first quarter. JPMorgan Chase & Co. now owns 75,228 shares of the company’s stock worth $2,196,000 after buying an additional 906 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Quanterix by 73.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after buying an additional 784 shares during the period. MetLife Investment Management LLC lifted its holdings in Quanterix by 58.5% during the first quarter. MetLife Investment Management LLC now owns 17,799 shares of the company’s stock worth $520,000 after buying an additional 6,569 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Quanterix by 6.7% during the first quarter. Panagora Asset Management Inc. now owns 44,750 shares of the company’s stock worth $1,306,000 after buying an additional 2,793 shares during the period. 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.