Ashford Capital Management Inc. Has $2.84 Million Stock Position in Quanterix Corporation $QTRX

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. reduced its position 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. The fund owned 436,930 shares of the company's stock after selling 107,600 shares during the quarter. Ashford Capital Management Inc. owned about 1.13% of Quanterix worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Quanterix during the 1st quarter worth about $98,000. Two Sigma Investments LP bought a new stake in Quanterix during the 4th quarter worth about $606,000. Price T Rowe Associates Inc. MD raised its holdings in Quanterix by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,878 shares of the company's stock worth $361,000 after purchasing an additional 5,385 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Quanterix during the 4th quarter worth about $570,000. Finally, Jane Street Group LLC raised its holdings in Quanterix by 18.1% during the 4th quarter. Jane Street Group LLC now owns 55,947 shares of the company's stock worth $595,000 after purchasing an additional 8,578 shares during the last quarter. 86.48% of the stock is owned by institutional investors.

Insider Activity at Quanterix

In other Quanterix news, Director David R. Walt acquired 131,869 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average cost of $5.43 per share, for a total transaction of $716,048.67. Following the transaction, the director owned 1,628,802 shares of the company's stock, valued at $8,844,394.86. This trade represents a 8.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William P. Donnelly acquired 93,113 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $5.44 per share, with a total value of $506,534.72. Following the completion of the transaction, the director directly owned 139,094 shares in the company, valued at $756,671.36. This trade represents a 202.50% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 463,113 shares of company stock valued at $2,625,444 over the last quarter. 6.80% of the stock is owned by insiders.

Quanterix Price Performance

Shares of QTRX traded down $0.06 on Tuesday, hitting $4.49. The company's stock had a trading volume of 550,119 shares, compared to its average volume of 783,968. The firm's fifty day moving average price is $5.56 and its 200-day moving average price is $5.92. Quanterix Corporation has a fifty-two week low of $4.05 and a fifty-two week high of $15.85.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its quarterly earnings data 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). Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. The business had revenue of $24.48 million during the quarter, compared to analyst estimates of $29.73 million. Quanterix has set its FY 2025 guidance at EPS. Sell-side analysts predict that Quanterix Corporation will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on QTRX shares. Canaccord Genuity Group reaffirmed 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 cut Quanterix from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Quanterix has an average rating of "Hold" and an average target price of $11.75.

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.