Aberdeen Group plc Buys 152,139 Shares of Quanterix Corporation $QTRX

Key Points

• Aberdeen Group plc increased its stake in Quanterix Corporation by 56.6%, now owning 420,856 shares worth approximately $2.8 million.
• Quanterix reported a quarterly loss of ($0.47) EPS, missing the estimated consensus of ($0.41), alongside revenue of $24.48 million versus expectations of $29.73 million.
• Equities analysts have a consensus rating of "Hold" for Quanterix, with a price target of $11.75, despite Canaccord Genuity reducing their price objective to $5.00.

Aberdeen Group plc raised its stake in Quanterix Corporation (NASDAQ:QTRX - Free Report) by 56.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 420,856 shares of the company's stock after purchasing an additional 152,139 shares during the period. Aberdeen Group plc owned 0.84% of Quanterix worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. SCS Capital Management LLC purchased a new position in shares of Quanterix in the 1st quarter worth approximately $2,307,000. Cubist Systematic Strategies LLC acquired a new position in shares of Quanterix during the first quarter worth $1,870,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Quanterix during the first quarter worth $98,000. Invenomic Capital Management LP purchased a new stake in shares of Quanterix during the 1st quarter valued at $5,872,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Quanterix by 46.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 500,398 shares of the company's stock worth $3,258,000 after purchasing an additional 158,134 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

Quanterix Price Performance

NASDAQ:QTRX opened at $5.86 on Friday. The company's fifty day moving average price is $5.11 and its 200-day moving average price is $5.47. Quanterix Corporation has a 1-year low of $4.05 and a 1-year high of $15.67. The firm has a market capitalization of $272.31 million, a P/E ratio of -3.22 and a beta of 1.07.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.06). The business had revenue of $24.48 million during the quarter, compared to analysts' expectations of $29.73 million. Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. Quanterix has set its FY 2025 guidance at EPS. Equities analysts anticipate that Quanterix Corporation will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on QTRX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Quanterix in a research note on Wednesday, October 8th. Canaccord Genuity Group restated a "hold" rating and set a $5.00 price objective (down previously from $12.00) on shares of Quanterix in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $11.75.

Quanterix 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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