Quanterix (NASDAQ:QTRX) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other research firms have also weighed in on QTRX. TD Cowen boosted their price objective on Quanterix from $3.00 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, October 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quanterix in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their price target on Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $3.25.

Quanterix Trading Up 4.7%

QTRX opened at $2.89 on Friday. Quanterix has a twelve month low of $2.15 and a twelve month high of $8.77. The firm has a market capitalization of $136.68 million, a PE ratio of -1.10 and a beta of 1.06. The firm’s 50-day moving average price is $3.00 and its 200 day moving average price is $3.80.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Monday, August 10th. The company reported ($1.04) EPS 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 net margin of 80.25% and a negative return on equity of 26.09%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Quanterix during the 2nd quarter valued at approximately $15,705,000. GSA Capital Partners LLP purchased a new position in shares of Quanterix in the 2nd quarter valued at approximately $1,772,000. Levin Capital Strategies L.P. purchased a new position in shares of Quanterix in the 1st quarter valued at approximately $5,153,000. Canada Pension Plan Investment Board acquired a new position in shares of Quanterix in the second quarter valued at approximately $165,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Quanterix during the second quarter worth approximately $60,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Company Profile

Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other molecules at very low concentrations, supporting research into disease biology, diagnosis, treatment response and drug development.

The company’s principal technology, Simoa, uses digital detection methods to improve the sensitivity of immunoassays.