Quanterix Corporation $QTRX Shares Sold by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. reduced its stake in Quanterix Corporation by 19.8% during the first quarter, now holding approximately 436,930 shares valued at $2.84 million.
• Research analysts have shown cautious sentiment towards Quanterix, with Canaccord Genuity lowering its target price from $12.00 to $5.00 and several analysts issuing a consensus rating of "Hold".
• Quanterix reported a quarterly loss of ($0.47) EPS, missing estimates, and had revenue of $24.48 million, below expectations of $29.73 million.

Ashford Capital Management Inc. cut its stake in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 19.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 436,930 shares of the company's stock after selling 107,600 shares during the quarter. Ashford Capital Management Inc. owned 1.13% of Quanterix worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State of Wyoming bought a new position in Quanterix during the 1st quarter valued at approximately $47,000. Tower Research Capital LLC TRC boosted its stake in Quanterix by 219.1% during the 4th 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 last quarter. Quantbot Technologies LP boosted its stake in Quanterix by 245.9% during the 1st quarter. Quantbot Technologies LP now owns 11,272 shares of the company's stock valued at $73,000 after purchasing an additional 8,013 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in Quanterix during the 1st quarter valued at $79,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Quanterix during the 1st quarter valued at $98,000. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quanterix

In other Quanterix news, Director William P. Donnelly purchased 93,113 shares of Quanterix stock in a transaction dated Friday, June 6th. The shares were acquired at an average cost of $5.44 per share, with a total value of $506,534.72. Following the completion of the transaction, the director owned 139,094 shares in the company, valued at approximately $756,671.36. This trade represents a 202.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David R. Walt bought 131,869 shares of Quanterix stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $5.43 per share, with a total value of $716,048.67. Following the purchase, the director directly owned 1,628,802 shares in the company, valued at $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 have acquired 463,113 shares of company stock valued at $2,625,444 in the last 90 days. Company insiders own 6.80% of the company's stock.

Quanterix Stock Down 0.6%

NASDAQ:QTRX traded down $0.03 on Thursday, reaching $4.33. 148,246 shares of the company's stock traded hands, compared to its average volume of 777,871. The stock has a 50-day simple moving average of $5.52 and a 200-day simple moving average of $5.91. The firm has a market cap of $200.98 million, a PE ratio of -2.38 and a beta of 1.03. 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 earnings results on Thursday, August 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.06). The firm 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. On average, equities analysts anticipate that Quanterix Corporation will post -0.98 earnings per share for the current year.

Analysts Set New Price Targets

QTRX has been the topic of a number of research reports. Canaccord Genuity Group restated a "hold" rating and issued a $5.00 price target (down from $12.00) on shares of Quanterix in a research note on Monday, August 11th. Wall Street Zen downgraded Quanterix from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. 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 data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.