Quanterix Corporation (NASDAQ:QTRX) Given Average Rating of “Hold” by Analysts

Quanterix Corporation (NASDAQ:QTRX) has received an average rating of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.3333.

A number of equities research analysts have issued reports on QTRX shares. Wall Street Zen raised shares of Quanterix from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quanterix in a research note on Wednesday, October 8th.

Quanterix Stock Performance

Shares of QTRX opened at $7.36 on Friday. Quanterix has a fifty-two week low of $4.05 and a fifty-two week high of $12.41. The business has a 50-day moving average of $6.20 and a 200 day moving average of $5.76. The firm has a market cap of $343.79 million, a P/E ratio of -3.16 and a beta of 1.01.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, November 10th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). Quanterix had a negative return on equity of 21.34% and a negative net margin of 73.47%.The business had revenue of $40.23 million for the quarter, compared to the consensus estimate of $37.85 million. As a group, research analysts predict that Quanterix will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanterix

Several hedge funds have recently bought and sold shares of the company. Portolan Capital Management LLC lifted its stake in Quanterix by 17.2% in the 3rd quarter. Portolan Capital Management LLC now owns 4,259,851 shares of the company’s stock worth $23,131,000 after purchasing an additional 626,229 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Quanterix by 14.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,236,877 shares of the company’s stock valued at $28,175,000 after purchasing an additional 521,639 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Quanterix by 4.7% in the third quarter. Vanguard Group Inc. now owns 2,647,515 shares of the company’s stock worth $14,376,000 after purchasing an additional 118,565 shares during the period. Invenomic Capital Management LP raised its position in shares of Quanterix by 21.7% in the third quarter. Invenomic Capital Management LP now owns 1,393,005 shares of the company’s stock worth $7,564,000 after buying an additional 248,101 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Quanterix by 16.6% during the third quarter. William Blair Investment Management LLC now owns 1,315,280 shares of the company’s stock valued at $7,142,000 after buying an additional 187,299 shares during the period. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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.