Quanterix (NASDAQ:QTRX) Stock Rating Lowered by Wall Street Zen

Quanterix (NASDAQ:QTRX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other equities analysts have also issued research reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Quanterix in a research note on Friday, August 7th. TD Cowen lowered their price target on Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group dropped their price objective on Quanterix from $8.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $3.50.

Quanterix Stock Performance

Shares of QTRX stock opened at $2.59 on Friday. Quanterix has a 12-month low of $2.15 and a 12-month high of $8.77. The business’s fifty day simple moving average is $3.62 and its 200-day simple moving average is $4.06. The company has a market cap of $122.48 million, a PE ratio of -0.98 and a beta of 1.07.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.63). The business had revenue of $32.91 million during the quarter, compared to analyst estimates of $37.48 million. Quanterix had a negative return on equity of 26.09% and a negative net margin of 80.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QTRX. Farther Finance Advisors LLC purchased a new position in Quanterix in the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Quanterix during the 4th quarter worth $27,000. Quarry LP raised its stake in Quanterix by 277,300.0% during the 3rd quarter. Quarry LP now owns 5,548 shares of the company’s stock worth $30,000 after acquiring an additional 5,546 shares in the last quarter. AXQ Capital LP purchased a new stake in Quanterix in the fourth quarter valued at $70,000. Finally, Renaissance Technologies LLC purchased a new stake in Quanterix in the fourth quarter valued at $75,000. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanterix Company Profile

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.