Quanterix (NASDAQ:QTRX) Hits New 1-Year Low at $14.26

Quanterix Co. (NASDAQ:QTRX) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $14.26 and last traded at $16.32, with a volume of 152448 shares changing hands. The stock had previously closed at $17.36.

Wall Street Analyst Weigh In

QTRX has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Scotiabank boosted their price target on Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Quanterix currently has an average rating of “Buy” and an average target price of $30.60.

Quanterix Stock Performance

The company has a market cap of $605.50 million, a price-to-earnings ratio of -18.53 and a beta of 1.41. The stock’s fifty day simple moving average is $21.51 and its two-hundred day simple moving average is $23.14.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. The firm had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. Analysts predict that Quanterix Co. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now directly owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Williams Jones Wealth Management LLC. purchased a new position in Quanterix in the first quarter valued at about $1,327,000. Easterly Investment Partners LLC grew its holdings in Quanterix by 551.1% during the 1st quarter. Easterly Investment Partners LLC now owns 78,734 shares of the company’s stock worth $1,855,000 after acquiring an additional 66,642 shares in the last quarter. Janney Capital Management LLC bought a new stake in shares of Quanterix in the 1st quarter worth about $259,000. Allspring Global Investments Holdings LLC grew its stake in Quanterix by 22.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock worth $303,000 after purchasing an additional 2,340 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Quanterix by 145.8% in the first quarter. Principal Financial Group Inc. now owns 26,824 shares of the company’s stock valued at $632,000 after buying an additional 15,909 shares during the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.

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.