Quanterix (NASDAQ:QTRX) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a report published on Saturday morning.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quanterix in a research note on Friday, August 7th. Canaccord Genuity Group lowered their target price on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. Finally, TD Cowen cut their price target on shares of Quanterix from $4.00 to $3.00 and set a “hold” rating for the company in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $3.50.

Quanterix Price Performance

Shares of QTRX stock opened at $2.59 on Friday. The company’s fifty day simple moving average is $3.62 and its two-hundred day simple moving average is $4.08. The stock has a market capitalization of $122.48 million, a price-to-earnings ratio of -0.98 and a beta of 1.07. Quanterix has a 1 year low of $2.15 and a 1 year high of $8.77.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, August 10th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.63). Quanterix had a negative return on equity of 26.09% and a negative net margin of 80.25%.The company had revenue of $32.91 million during the quarter, compared to the consensus estimate of $37.48 million.

Hedge Funds Weigh In On Quanterix

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of Quanterix by 14.0% during the second quarter. Ameriprise Financial Inc. now owns 4,236,877 shares of the company’s stock worth $28,175,000 after acquiring an additional 521,639 shares in the last quarter. BlackRock Inc. bought a new stake in Quanterix in the second quarter worth $15,705,000. Vanguard Group Inc. boosted its position in Quanterix by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,647,515 shares of the company’s stock valued at $14,376,000 after buying an additional 118,565 shares during the period. William Blair Investment Management LLC boosted its position in Quanterix by 55.6% during the fourth quarter. William Blair Investment Management LLC now owns 2,046,449 shares of the company’s stock valued at $13,015,000 after buying an additional 731,169 shares during the period. Finally, Invenomic Capital Management LP grew its stake in shares of Quanterix by 8.1% during the fourth quarter. Invenomic Capital Management LP now owns 1,505,208 shares of the company’s stock valued at $9,573,000 after buying an additional 112,203 shares during the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.