Cubist Systematic Strategies LLC Takes $1.87 Million Position in Quanterix Corporation $QTRX

Key Points

• Cubist Systematic Strategies LLC purchased 287,231 shares of Quanterix Corporation, valued at approximately $1.87 million, increasing their ownership to about 0.74% of the company.
• Director David R. Walt acquired 123,990 shares at an average price of $6.14 each, raising his total ownership to 1,866,933 shares, valued at around $11.46 million.
• Quanterix reported a loss of ($0.47) earnings per share for the last quarter, missing analyst estimates, with revenue of $24.48 million compared to expectations of $29.73 million.

Cubist Systematic Strategies LLC bought a new stake in Quanterix Corporation (NASDAQ:QTRX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 287,231 shares of the company's stock, valued at approximately $1,870,000. Cubist Systematic Strategies LLC owned about 0.74% of Quanterix as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. increased its position in shares of Quanterix by 111.3% in the fourth quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock valued at $34,079,000 after acquiring an additional 1,688,680 shares during the last quarter. Millennium Management LLC increased its position in shares of Quanterix by 6.0% in the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company's stock valued at $23,228,000 after acquiring an additional 122,969 shares during the last quarter. Easterly Investment Partners LLC increased its position in shares of Quanterix by 38.8% in the first quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company's stock valued at $8,630,000 after acquiring an additional 370,625 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Quanterix by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 893,645 shares of the company's stock valued at $9,500,000 after acquiring an additional 6,099 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Quanterix by 51.1% in the first quarter. Russell Investments Group Ltd. now owns 606,787 shares of the company's stock valued at $3,950,000 after acquiring an additional 205,311 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company's stock.

Insider Activity at Quanterix

In other news, Director David R. Walt bought 123,990 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were bought at an average price of $6.14 per share, with a total value of $761,298.60. Following the completion of the transaction, the director owned 1,866,933 shares of the company's stock, valued at $11,462,968.62. This trade represents a 7.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.80% of the company's stock.

Quanterix Price Performance

NASDAQ QTRX traded up $0.04 during trading on Wednesday, reaching $4.33. 969,433 shares of the company's stock were exchanged, compared to its average volume of 774,646. The business has a 50 day moving average price of $5.34 and a 200-day moving average price of $5.80. The stock has a market capitalization of $201.22 million, a P/E ratio of -2.38 and a beta of 1.03. 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 posted its 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). Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. The firm 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. On average, analysts forecast that Quanterix Corporation will post -0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QTRX. Canaccord Genuity Group reissued a "hold" rating and set a $5.00 price target (down previously from $12.00) on shares of Quanterix in a research report on Monday, August 11th. Wall Street Zen downgraded Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.75.

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.