Quanterix (NASDAQ:QTRX) Shares Up 4.9% – Time to Buy?

Shares of Quanterix Co. (NASDAQ:QTRX) rose 4.9% during trading on Tuesday . The company traded as high as $13.17 and last traded at $13.17. Approximately 41,859 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 395,633 shares. The stock had previously closed at $12.56.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on QTRX shares. The Goldman Sachs Group reduced their price objective on Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. TD Cowen dropped their target price on Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Scotiabank dropped their price target on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a report on Monday, August 12th.

Quanterix Stock Performance

The firm’s 50 day simple moving average is $12.71 and its 200-day simple moving average is $14.13. The company has a market capitalization of $505.93 million, a price-to-earnings ratio of -13.47 and a beta of 1.36.

Quanterix (NASDAQ:QTRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. The firm had revenue of $34.38 million for the quarter, compared to analyst estimates of $34.19 million. During the same period last year, the firm earned ($0.16) earnings per share. As a group, equities analysts anticipate that Quanterix Co. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David R. Walt purchased 47,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the acquisition, the director now directly owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanterix

A number of large investors have recently bought and sold shares of QTRX. nVerses Capital LLC bought a new stake in Quanterix in the third quarter worth $60,000. SG Americas Securities LLC acquired a new position in Quanterix during the 3rd quarter worth $139,000. Canada Pension Plan Investment Board acquired a new position in Quanterix during the 2nd quarter worth $140,000. Hsbc Holdings PLC lifted its position in Quanterix by 34.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after acquiring an additional 3,279 shares during the last quarter. Finally, Comerica Bank lifted its position in Quanterix by 44,205.6% during the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock worth $188,000 after acquiring an additional 7,957 shares during the last quarter. 86.48% of the stock is currently owned by institutional investors.

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.