Quanterix (NASDAQ:QTRX) Trading Down 3.6%

Quanterix Co. (NASDAQ:QTRX) traded down 3.6% during trading on Tuesday . The stock traded as low as $21.56 and last traded at $21.67. 36,582 shares were traded during trading, a decline of 89% from the average session volume of 320,848 shares. The stock had previously closed at $22.47.

Wall Street Analyst Weigh In

Separately, Scotiabank boosted their price objective on Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $32.00.

Quanterix Price Performance

The stock has a market cap of $872.72 million, a P/E ratio of -26.66 and a beta of 1.31. The company has a fifty day moving average price of $24.78 and a 200 day moving average price of $24.39.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. The company had revenue of $31.55 million for the quarter, compared to the consensus estimate of $27.92 million. As a group, sell-side analysts expect that Quanterix Co. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in Quanterix in the first quarter worth $29,000. US Bancorp DE boosted its position in Quanterix by 35.6% in the second quarter. US Bancorp DE now owns 1,709 shares of the company’s stock worth $39,000 after purchasing an additional 449 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Quanterix by 974.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,890 shares of the company’s stock valued at $40,000 after buying an additional 2,621 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Quanterix during the 2nd quarter valued at $47,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Quanterix by 73.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock valued at $53,000 after buying an additional 784 shares during the last quarter. 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.