Quanterix Co. (NASDAQ:QTRX) Short Interest Down 19.4% in October

Quanterix Co. (NASDAQ:QTRX) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,990,000 shares, a decrease of 19.4% from the October 15th total of 2,470,000 shares. Based on an average daily trading volume, of 395,000 shares, the short-interest ratio is currently 5.0 days. Currently, 5.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

QTRX has been the subject of several recent research reports. Scotiabank dropped their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. TD Cowen increased their price target on shares of Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday.

Quanterix Trading Down 3.9 %

Shares of Quanterix stock opened at $11.92 on Friday. The stock has a market capitalization of $457.48 million, a price-to-earnings ratio of -11.35 and a beta of 1.36. Quanterix has a 1-year low of $10.50 and a 1-year high of $29.70. The firm’s 50-day moving average price is $12.97 and its two-hundred day moving average price is $14.01.

Insider Activity

In other Quanterix news, Director David R. Walt purchased 47,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of $13.29 per share, with a total value of $624,630.00. Following the completion of the transaction, the director now directly owns 1,487,342 shares of the company’s stock, valued at approximately $19,766,775.18. This trade represents a 3.26 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.

Institutional Trading of Quanterix

Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Quanterix by 112.6% during the third quarter. FMR LLC now owns 30,242 shares of the company’s stock worth $392,000 after buying an additional 16,020 shares during the last quarter. Algert Global LLC grew its stake in shares of Quanterix by 75.9% during the third quarter. Algert Global LLC now owns 137,833 shares of the company’s stock valued at $1,786,000 after purchasing an additional 59,496 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Quanterix during the third quarter valued at approximately $170,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Quanterix during the third quarter valued at approximately $500,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Quanterix during the third quarter valued at approximately $258,000. 86.48% of the stock is owned by institutional investors.

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.