Easterly Investment Partners LLC Decreases Stake in Quanterix Corporation $QTRX

Key Points

• Easterly Investment Partners LLC reduced its stake in Quanterix Corporation by 18.3% during the second quarter, now holding about 1,083,635 shares valued at approximately $7.2 million.
• Quanterix's earnings results for the last quarter showed a loss of ($0.47) EPS, missing estimates and generating revenue of $24.48 million, below the expected $29.73 million.
• Analyst ratings indicate a consensus of "Hold" for Quanterix, with a target price drop to $5.00, down from a previous target of $12.00.

Easterly Investment Partners LLC cut its stake in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 18.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,083,635 shares of the company's stock after selling 241,985 shares during the quarter. Easterly Investment Partners LLC owned about 2.17% of Quanterix worth $7,206,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in QTRX. SCS Capital Management LLC acquired a new stake in shares of Quanterix during the 1st quarter valued at approximately $2,307,000. Cubist Systematic Strategies LLC purchased a new position in Quanterix in the 1st quarter valued at approximately $1,870,000. Allspring Global Investments Holdings LLC purchased a new position in Quanterix in the 1st quarter valued at approximately $98,000. Invenomic Capital Management LP acquired a new position in Quanterix during the first quarter worth $5,872,000. Finally, Envestnet Asset Management Inc. boosted its position in Quanterix by 46.2% during the first 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. Hedge funds and other institutional investors own 86.48% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on QTRX shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quanterix in a research note on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $5.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Quanterix has a consensus rating of "Hold" and a consensus target price of $11.75.

Quanterix Price Performance

NASDAQ:QTRX opened at $5.95 on Friday. The firm has a market cap of $276.50 million, a PE ratio of -3.27 and a beta of 1.07. The firm has a 50 day simple moving average of $5.09 and a 200-day simple moving average of $5.47. Quanterix Corporation has a 1-year low of $4.05 and a 1-year high of $15.67.

Quanterix (NASDAQ:QTRX - Get Free Report) last released 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). The firm had revenue of $24.48 million during the quarter, compared to analysts' expectations 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, sell-side analysts expect that Quanterix Corporation will post -0.98 earnings per share for the current fiscal year.

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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