TD Cowen Cuts Quanterix (NASDAQ:QTRX) Price Target to $3.00

Quanterix (NASDAQ:QTRX) had its price objective reduced by equities researchers at TD Cowen from $4.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target points to a potential upside of 21.21% from the company’s previous close.

QTRX has been the subject of a number of other research reports. Weiss Ratings lowered Quanterix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Canaccord Genuity Group decreased their target price on Quanterix from $8.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Quanterix from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $3.50.

Quanterix Price Performance

Quanterix stock traded up $0.06 during mid-day trading on Tuesday, reaching $2.48. The stock had a trading volume of 808,258 shares, compared to its average volume of 922,140. The company has a market capitalization of $116.60 million, a price-to-earnings ratio of -1.05 and a beta of 1.07. The company has a 50-day moving average price of $3.68 and a two-hundred day moving average price of $4.17. Quanterix has a one year low of $2.15 and a one year high of $8.77.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, August 10th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.63). Quanterix had a negative return on equity of 23.92% and a negative net margin of 71.86%.The firm had revenue of $32.91 million during the quarter, compared to analysts’ expectations of $37.46 million.

Institutional Investors Weigh In On Quanterix

A number of institutional investors have recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. bought a new position in shares of Quanterix during the 1st quarter valued at about $5,153,000. First Eagle Investment Management LLC purchased a new stake in shares of Quanterix in the fourth quarter worth about $3,380,000. William Blair Investment Management LLC boosted its stake 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 last quarter. Royal Bank of Canada boosted its stake in Quanterix by 129.8% during the first quarter. Royal Bank of Canada now owns 232,101 shares of the company’s stock valued at $817,000 after buying an additional 131,100 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Quanterix by 1,054.3% during the 1st quarter. Renaissance Technologies LLC now owns 136,207 shares of the company’s stock valued at $479,000 after buying an additional 124,407 shares in 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.