Zacks Investment Research cut shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Quanterix Corporation is a developer of tools in high definition diagnostics. The Company focuses on research and diagnostics for brain injuries, heart disease, cancer and other diseases with its technology. It offers Simoa consumables, which include Simoa Discs, Simoa Cuvettes, Simoa Sealing Oil, Simoa Buffers and Disposable Tips. The company services include Simoa Accelerator Lab and custom assay development services. Quanterix Corporation is based in LEXINGTON, United States. “

Several other research firms have also recently commented on QTRX. Canaccord Genuity restated a buy rating and issued a $29.00 target price on shares of Quanterix in a research note on Friday, March 8th. ValuEngine upgraded Quanterix from a hold rating to a buy rating in a research note on Thursday, January 31st.

NASDAQ QTRX traded up $0.73 during trading on Wednesday, hitting $22.65. The stock had a trading volume of 3,933 shares, compared to its average volume of 83,302. The stock has a market capitalization of $465.25 million, a price-to-earnings ratio of -15.97 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.95 and a current ratio of 3.28. Quanterix has a 12 month low of $13.00 and a 12 month high of $26.48.

Quanterix (NASDAQ:QTRX) last released its earnings results on Monday, March 18th. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.17). The firm had revenue of $10.88 million during the quarter, compared to the consensus estimate of $9.69 million. Quanterix had a negative net margin of 83.80% and a negative return on equity of 62.68%. On average, equities research analysts forecast that Quanterix will post -1.57 EPS for the current year.

In other news, Chairman E Kevin Hrusovsky sold 6,817 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $24.06, for a total transaction of $164,017.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David C. Duffy sold 1,277 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $20.78, for a total value of $26,536.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,498 shares of company stock worth $337,811. Company insiders own 31.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of Quanterix by 5,803.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,830 shares of the company’s stock worth $47,000 after purchasing an additional 1,799 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Quanterix by 50.3% during the 1st quarter. Citigroup Inc. now owns 2,661 shares of the company’s stock worth $69,000 after acquiring an additional 891 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Quanterix during the 4th quarter worth approximately $100,000. Bank of Montreal Can increased its holdings in shares of Quanterix by 3,159.2% during the 1st quarter. Bank of Montreal Can now owns 3,911 shares of the company’s stock worth $101,000 after acquiring an additional 3,791 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Quanterix by 386.4% during the 4th quarter. Bank of America Corp DE now owns 5,817 shares of the company’s stock worth $107,000 after acquiring an additional 4,621 shares during the last quarter. Institutional investors own 51.76% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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