Quanterix (NASDAQ:QTRX) 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 report issued on Saturday.

QTRX has been the topic of several other research reports. TD Cowen dropped their price target on shares of Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quanterix in a research report on Friday, August 7th. Finally, Canaccord Genuity Group lowered their target price on Quanterix from $8.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $3.00.

Quanterix Stock Up 12.7%

NASDAQ QTRX opened at $2.92 on Friday. Quanterix has a fifty-two week low of $2.15 and a fifty-two week high of $8.77. The business has a 50 day moving average price of $3.62 and a two-hundred day moving average price of $4.03. The stock has a market cap of $138.09 million, a PE ratio of -1.11 and a beta of 1.07.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.63). The firm had revenue of $32.91 million for the quarter, compared to analysts’ expectations of $37.48 million. Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%.

Institutional Trading of Quanterix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in shares of Quanterix in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Quanterix during the 4th quarter valued at approximately $27,000. Quarry LP raised its position in shares of Quanterix by 277,300.0% during the 3rd quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after acquiring an additional 5,546 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Quanterix during the second quarter worth $60,000. Finally, AXQ Capital LP bought a new position in Quanterix during the fourth quarter worth $70,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.