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

Quanterix Co. (NASDAQ:QTRX - Get Free Report) Director David R. Walt purchased 78,131 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were bought at an average price of $5.34 per share, for a total transaction of $417,219.54. Following the completion of the transaction, the director now owns 1,706,933 shares of the company's stock, valued at approximately $9,115,022.22. This trade represents a 4.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Quanterix Stock Performance

Quanterix stock traded down $0.31 during trading on Monday, reaching $5.06. The company had a trading volume of 793,619 shares, compared to its average volume of 580,059. The firm's 50-day simple moving average is $5.28 and its 200 day simple moving average is $7.87. Quanterix Co. has a 1-year low of $4.05 and a 1-year high of $19.18. The firm has a market capitalization of $196.47 million, a PE ratio of -4.77 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Leerink Partnrs lowered Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Wall Street Zen lowered Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of Quanterix in a research report on Tuesday, March 25th. Canaccord Genuity Group decreased their target price on Quanterix from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Leerink Partners reaffirmed a "market perform" rating and set a $8.00 price target (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. 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 institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Quanterix by 42.3% in the third quarter. Barclays PLC now owns 146,248 shares of the company's stock valued at $1,896,000 after purchasing an additional 43,447 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Quanterix in the fourth quarter valued at about $169,000. abrdn plc grew its stake in Quanterix by 24.4% during the 4th quarter. abrdn plc now owns 206,923 shares of the company's stock valued at $2,200,000 after purchasing an additional 40,525 shares in the last quarter. Valmark Advisers Inc. grew its stake in Quanterix by 88.3% during the 4th quarter. Valmark Advisers Inc. now owns 210,878 shares of the company's stock valued at $2,242,000 after purchasing an additional 98,883 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Quanterix by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company's stock worth $1,150,000 after acquiring an additional 1,963 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company's stock.

Quanterix Company Profile

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.

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