TD Cowen Issues Positive Forecast for Quanterix (NASDAQ:QTRX) Stock Price

Quanterix (NASDAQ:QTRX) had its target price lifted by TD Cowen from $13.50 to $16.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, Scotiabank decreased their target price on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th.

Quanterix Stock Down 18.3 %

Shares of Quanterix stock opened at $12.40 on Wednesday. The stock has a market capitalization of $475.90 million, a P/E ratio of -11.81 and a beta of 1.36. The stock has a 50 day moving average price of $12.97 and a two-hundred day moving average price of $14.01. Quanterix has a 12-month low of $10.50 and a 12-month high of $29.70.

Insider Activity

In other Quanterix news, Director David R. Walt acquired 47,000 shares of Quanterix stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $13.29 per share, with a total value of $624,630.00. Following the completion of the transaction, the director now owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Quanterix in the third quarter valued at $60,000. SG Americas Securities LLC acquired a new position in shares of Quanterix in the third quarter valued at $139,000. Canada Pension Plan Investment Board acquired a new position in shares of Quanterix in the second quarter valued at $140,000. Hsbc Holdings PLC raised its stake in shares of Quanterix by 34.7% in the second quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock valued at $164,000 after purchasing an additional 3,279 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Quanterix in the third quarter valued at $170,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

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.