Quanterix (NASDAQ:QTRX) Shares Up 4.9% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have commented on QTRX. Scotiabank reduced their target price 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 cut 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. Finally, The Goldman Sachs Group cut their price objective on Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th.

Quanterix Stock Performance

The business has a 50-day moving average of $12.71 and a 200-day moving average of $14.13. The stock has a market capitalization of $505.93 million, a price-to-earnings ratio of -13.47 and a beta of 1.36.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $34.38 million during the quarter, compared to analysts’ expectations of $34.19 million. Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. During the same period in the previous year, the business earned ($0.16) earnings per share. On average, research analysts predict 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 acquired 47,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the acquisition, the director now directly owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Emerald Advisers LLC raised its position in Quanterix by 5.6% in the third quarter. Emerald Advisers LLC now owns 719,217 shares of the company’s stock valued at $9,321,000 after purchasing an additional 38,230 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Quanterix by 129.3% during the third quarter. Harbor Capital Advisors Inc. now owns 192,444 shares of the company’s stock worth $2,494,000 after acquiring an additional 108,503 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Quanterix by 0.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 563,247 shares of the company’s stock worth $7,300,000 after acquiring an additional 4,406 shares during the last quarter. Janney Capital Management LLC increased its position in shares of Quanterix by 33.6% during the third quarter. Janney Capital Management LLC now owns 23,553 shares of the company’s stock worth $305,000 after acquiring an additional 5,930 shares during the last quarter. Finally, abrdn plc grew its stake in Quanterix by 163.6% in the third quarter. abrdn plc now owns 166,398 shares of the company’s stock worth $2,157,000 after purchasing an additional 103,281 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

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.