Quanterix (NASDAQ:QTRX) Shares Up 4.9% - Here's What Happened

Quanterix Co. (NASDAQ:QTRX - Get Free Report)'s stock price rose 4.9% during trading on Tuesday . The company traded as high as $13.17 and last traded at $13.17. Approximately 41,859 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 395,633 shares. The stock had previously closed at $12.56.

Analyst Ratings Changes

QTRX has been the topic of a number of research reports. TD Cowen dropped their price objective on Quanterix from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group dropped their price target on shares of Quanterix from $35.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, July 9th. Finally, Scotiabank dropped their price target on shares of Quanterix from $32.00 to $28.00 and set a "sector outperform" rating on the stock in a research report on Monday, August 12th.

Quanterix Stock Up 5.0 %

The company has a market cap of $504.78 million, a P/E ratio of -13.93 and a beta of 1.36. The stock's 50-day moving average price is $12.70 and its 200 day moving average price is $14.17.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $34.38 million during the quarter, compared to analyst estimates of $34.19 million. Quanterix had a negative return on equity of 11.52% and a negative net margin of 30.71%. During the same quarter in the previous year, the business posted ($0.16) EPS. Analysts expect that Quanterix Co. will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Quanterix

In other Quanterix news, Director David R. Walt purchased 47,000 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the purchase, the director now directly owns 1,487,342 shares of the company's stock, valued at approximately $19,766,775.18. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanterix

A number of institutional investors have recently bought and sold shares of QTRX. nVerses Capital LLC acquired a new stake in Quanterix during the third quarter worth $60,000. SG Americas Securities LLC acquired a new stake in Quanterix during the third quarter worth $139,000. Canada Pension Plan Investment Board acquired a new stake in Quanterix during the second quarter worth $140,000. Hsbc Holdings PLC boosted its stake in Quanterix by 34.7% during the second quarter. Hsbc Holdings PLC now owns 12,738 shares of the company's stock worth $164,000 after buying an additional 3,279 shares in the last quarter. Finally, Comerica Bank boosted its stake in Quanterix by 44,205.6% during the first quarter. Comerica Bank now owns 7,975 shares of the company's stock worth $188,000 after buying an additional 7,957 shares in the last quarter. Institutional investors and hedge funds 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.