Quanterix (NASDAQ:QTRX) Shares Up 6.9%

Quanterix Co. (NASDAQ:QTRX - Get Free Report)'s stock price rose 6.9% during mid-day trading on Thursday . The company traded as high as $15.31 and last traded at $15.12. Approximately 209,486 shares changed hands during trading, a decline of 47% from the average daily volume of 397,053 shares. The stock had previously closed at $14.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QTRX shares. Scotiabank dropped their price objective on Quanterix from $32.00 to $28.00 and set a "sector outperform" rating on the stock in a research report on Monday, August 12th. TD Cowen dropped their price target on shares of Quanterix from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Friday, August 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Quanterix from $35.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Quanterix currently has an average rating of "Moderate Buy" and an average target price of $24.80.

Quanterix Price Performance

The firm has a 50-day simple moving average of $13.43 and a 200-day simple moving average of $16.54. The firm has a market capitalization of $592.80 million, a PE ratio of -16.14 and a beta of 1.36.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. The business had revenue of $34.38 million for the quarter, compared to the consensus estimate of $34.19 million. During the same quarter last year, the firm posted ($0.16) earnings per share. Equities analysts expect that Quanterix Co. will post -0.88 earnings per share for the current year.

Insider Transactions at Quanterix

In related news, Director David R. Walt bought 47,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the transaction, the director now owns 1,487,342 shares of the company's stock, valued at $19,766,775.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in Quanterix by 44,205.6% during the first quarter. Comerica Bank now owns 7,975 shares of the company's stock valued at $188,000 after acquiring an additional 7,957 shares during the period. Quest Partners LLC bought a new stake in Quanterix during the 4th quarter valued at approximately $240,000. Canada Pension Plan Investment Board purchased a new position in Quanterix in the 2nd quarter worth approximately $140,000. Janney Capital Management LLC bought a new position in Quanterix in the 1st quarter worth approximately $259,000. Finally, Hsbc Holdings PLC boosted its stake in Quanterix by 34.7% in the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company's stock worth $164,000 after purchasing an additional 3,279 shares during the period. Institutional investors own 86.48% of the company's stock.

About Quanterix

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.