Quanterix (NASDAQ:QTRX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Quanterix Corporation is a developer of tools in high definition diagnostics. The Company focuses on research and diagnostics for brain injuries, heart disease, cancer and other diseases with its technology. It offers Simoa consumables, which include Simoa Discs, Simoa Cuvettes, Simoa Sealing Oil, Simoa Buffers and Disposable Tips. The company services include Simoa Accelerator Lab and custom assay development services. Quanterix Corporation is based in LEXINGTON, United States. “

Separately, Canaccord Genuity cut their price target on Cronos Group from C$17.00 to C$16.00 in a report on Friday, May 10th.

Shares of NASDAQ:QTRX opened at $29.81 on Wednesday. The business has a 50 day moving average price of $30.31. The company has a market capitalization of $758.09 million, a price-to-earnings ratio of -20.85 and a beta of 1.27. The company has a current ratio of 3.10, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22. Quanterix has a 52-week low of $13.00 and a 52-week high of $36.15.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.02). The firm had revenue of $12.34 million during the quarter, compared to the consensus estimate of $11.33 million. Quanterix had a negative return on equity of 76.62% and a negative net margin of 79.48%. On average, equities research analysts expect that Quanterix will post -1.56 earnings per share for the current year.

In other news, SVP David C. Duffy sold 1,667 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $32.74, for a total value of $54,577.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman E Kevin Hrusovsky sold 3,145 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $34.64, for a total value of $108,942.80. The disclosure for this sale can be found here. Insiders sold 12,942 shares of company stock worth $354,518 in the last 90 days. Corporate insiders own 30.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of QTRX. BNP Paribas Arbitrage SA lifted its holdings in shares of Quanterix by 5,803.2% in the first quarter. BNP Paribas Arbitrage SA now owns 1,830 shares of the company’s stock valued at $47,000 after purchasing an additional 1,799 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Quanterix in the fourth quarter valued at approximately $100,000. Bank of Montreal Can lifted its holdings in shares of Quanterix by 3,159.2% in the first quarter. Bank of Montreal Can now owns 3,911 shares of the company’s stock valued at $101,000 after purchasing an additional 3,791 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Quanterix by 386.4% in the fourth quarter. Bank of America Corp DE now owns 5,817 shares of the company’s stock valued at $107,000 after purchasing an additional 4,621 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Quanterix by 116.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,500 shares of the company’s stock valued at $119,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 45.94% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

See Also: What is a Roth IRA?

Get a free copy of the Zacks research report on Quanterix (QTRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Quanterix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanterix and related companies with MarketBeat.com's FREE daily email newsletter.