Aberdeen Group plc Increases Stake in Quanterix Corporation $QTRX

Key Points

• Aberdeen Group plc increased its stake in Quanterix Corporation by 29.9%, now owning approximately 0.69% of the company valued at $1.75 million.
• Quanterix has received several downgrades from analysts, with a consensus price target of $11.75 and a current average rating of "Hold".
• Insiders have been actively purchasing shares, with Director William P. Donnelly increasing his position by 202.5% after acquiring 93,113 shares at $5.44 each.

Aberdeen Group plc boosted its stake in Quanterix Corporation (NASDAQ:QTRX - Free Report) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 268,717 shares of the company's stock after acquiring an additional 61,794 shares during the period. Aberdeen Group plc owned 0.69% of Quanterix worth $1,749,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position 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 valued at $61,000 after purchasing an additional 3,915 shares during the period. Aaron Wealth Advisors LLC bought a new stake in shares of Quanterix in the first quarter valued at approximately $79,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Quanterix in the first quarter valued at approximately $98,000. Canada Pension Plan Investment Board raised its position in shares of Quanterix by 64.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company's stock valued at $108,000 after purchasing an additional 4,000 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Quanterix in the fourth quarter valued at approximately $108,000. Institutional investors own 86.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QTRX. Wall Street Zen lowered shares of Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Leerink Partnrs lowered shares of Quanterix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Leerink Partners reissued a "market perform" rating and issued a $8.00 price target (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $5.00 target price (down previously from $12.00) on shares of Quanterix in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $11.75.

Insiders Place Their Bets

In related news, Director William P. Donnelly purchased 93,113 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $5.44 per share, with a total value of $506,534.72. Following the acquisition, the director directly owned 139,094 shares of the company's stock, valued at approximately $756,671.36. This represents a 202.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David R. Walt purchased 131,869 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $5.43 per share, for a total transaction of $716,048.67. Following the acquisition, the director directly owned 1,628,802 shares in the company, valued at approximately $8,844,394.86. The trade was a 8.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 463,113 shares of company stock worth $2,625,444 in the last three months. Insiders own 6.90% of the company's stock.

Quanterix Trading Down 1.7%

Shares of NASDAQ:QTRX traded down $0.08 during trading on Wednesday, reaching $4.61. The company had a trading volume of 544,179 shares, compared to its average volume of 822,848. The company has a fifty day moving average of $5.69 and a two-hundred day moving average of $6.03. The stock has a market capitalization of $214.23 million, a P/E ratio of -2.53 and a beta of 1.07. Quanterix Corporation has a 12 month low of $4.05 and a 12 month high of $15.85.

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

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.