Q3 Earnings Estimate for Quanterix Issued By Leerink Partnrs

Quanterix Co. (NASDAQ:QTRX - Free Report) - Research analysts at Leerink Partnrs increased their Q3 2024 earnings estimates for shares of Quanterix in a report released on Tuesday, November 12th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings per share of ($0.19) for the quarter, up from their prior estimate of ($0.20). The consensus estimate for Quanterix's current full-year earnings is ($0.88) per share. Leerink Partnrs also issued estimates for Quanterix's Q4 2024 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS and Q4 2025 earnings at ($0.21) EPS.

Several other equities research analysts also recently weighed in on QTRX. Scotiabank decreased their target price on 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 upped their price target on Quanterix from $13.50 to $16.00 and gave the stock a "hold" rating in a report on Wednesday.

Quanterix Price Performance

NASDAQ QTRX traded down $0.48 during trading hours on Friday, hitting $11.44. The company had a trading volume of 555,932 shares, compared to its average volume of 403,176. The firm's 50 day moving average is $12.97 and its 200 day moving average is $14.01. Quanterix has a fifty-two week low of $10.50 and a fifty-two week high of $29.70. The company has a market capitalization of $439.07 million, a price-to-earnings ratio of -10.75 and a beta of 1.36.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Quanterix in the third quarter valued at approximately $60,000. SG Americas Securities LLC bought a new stake in Quanterix during the third quarter worth approximately $139,000. Canada Pension Plan Investment Board bought a new position in Quanterix during the 2nd quarter valued at $140,000. Hsbc Holdings PLC lifted its holdings in shares of Quanterix by 34.7% in the second quarter. Hsbc Holdings PLC now owns 12,738 shares of the company's stock valued at $164,000 after buying an additional 3,279 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Quanterix during the third quarter worth about $170,000. 86.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director David R. Walt acquired 47,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $13.29 per share, with a total value of $624,630.00. Following the completion of the acquisition, the director now directly owns 1,487,342 shares in the company, valued at $19,766,775.18. This represents a 3.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.90% 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.