Quanterix (NASDAQ:QTRX - Get Free Report) had its price objective cut by stock analysts at Canaccord Genuity Group from $20.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 107.76% from the stock's previous close.
Quanterix Trading Down 0.3 %
Shares of NASDAQ QTRX traded down $0.02 during trading hours on Tuesday, reaching $7.22. The stock had a trading volume of 705,141 shares, compared to its average volume of 506,833. The firm has a market cap of $278.14 million, a price-to-earnings ratio of -6.81 and a beta of 1.34. The business's fifty day moving average price is $8.18 and its two-hundred day moving average price is $10.83. Quanterix has a 52-week low of $6.30 and a 52-week high of $24.87.
Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). The firm had revenue of $35.16 million during the quarter, compared to analysts' expectations of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. Equities research analysts anticipate that Quanterix will post -0.98 earnings per share for the current fiscal year.
Institutional Trading of Quanterix
A number of hedge funds have recently bought and sold shares of QTRX. Ameriprise Financial Inc. lifted its holdings in Quanterix by 111.3% during the fourth quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock worth $34,079,000 after buying an additional 1,688,680 shares during the period. William Blair Investment Management LLC purchased a new stake in Quanterix during the fourth quarter worth $11,290,000. Portolan Capital Management LLC lifted its holdings in Quanterix by 31.4% during the third quarter. Portolan Capital Management LLC now owns 2,520,686 shares of the company's stock worth $32,668,000 after buying an additional 602,656 shares during the period. Pier Capital LLC lifted its holdings in Quanterix by 32.8% during the fourth quarter. Pier Capital LLC now owns 679,680 shares of the company's stock worth $7,225,000 after buying an additional 167,882 shares during the period. Finally, Williams Jones Wealth Management LLC. lifted its holdings in Quanterix by 39.9% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company's stock worth $5,012,000 after buying an additional 134,470 shares during the period. Hedge funds and other institutional investors own 86.48% of the company's stock.
About Quanterix
(
Get Free Report)
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.
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