David R. Walt Acquires 78,131 Shares of Quanterix Co. (NASDAQ:QTRX) Stock

Quanterix Co. (NASDAQ:QTRX - Get Free Report) Director David R. Walt acquired 78,131 shares of Quanterix stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average cost of $5.34 per share, with a total value of $417,219.54. Following the purchase, the director now directly owns 1,706,933 shares of the company's stock, valued at $9,115,022.22. This represents a 4.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Quanterix Stock Down 7.1%

Shares of QTRX traded down $0.47 during mid-day trading on Thursday, hitting $6.19. 730,843 shares of the company traded hands, compared to its average volume of 591,546. The company has a market capitalization of $240.35 million, a PE ratio of -5.84 and a beta of 1.05. The business has a 50 day moving average of $5.32 and a 200 day moving average of $7.81. Quanterix Co. has a 1-year low of $4.05 and a 1-year high of $18.02.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.16. The business had revenue of $30.33 million for the quarter, compared to analyst estimates of $28.27 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. As a group, research analysts expect that Quanterix Co. will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QTRX has been the subject of several recent research reports. Scotiabank reissued an "outperform" rating on shares of Quanterix in a research report on Tuesday, March 25th. Leerink Partners reiterated a "market perform" rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Quanterix from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Leerink Partnrs cut shares of Quanterix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group cut their price target on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.60.

Institutional Investors Weigh In On Quanterix

A number of large investors have recently made changes to their positions in QTRX. State of Wyoming purchased a new position in Quanterix in the 1st quarter worth $47,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Quanterix in the fourth quarter valued at about $55,000. Tower Research Capital LLC TRC raised its stake in shares of Quanterix by 219.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock worth $61,000 after purchasing an additional 3,915 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Quanterix in the fourth quarter worth about $66,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Quanterix by 245.9% during the first quarter. Quantbot Technologies LP now owns 11,272 shares of the company's stock worth $73,000 after purchasing an additional 8,013 shares during the period. 86.48% of the stock is owned by hedge funds and other 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.