Emerald Advisers LLC Sells 252,853 Shares of Quanterix Corporation (NASDAQ:QTRX)

Emerald Advisers LLC lowered its stake in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 90.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,542 shares of the company's stock after selling 252,853 shares during the quarter. Emerald Advisers LLC owned about 0.07% of Quanterix worth $166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in Quanterix by 111.3% in the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock valued at $34,079,000 after buying an additional 1,688,680 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in Quanterix by 2.7% during the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company's stock valued at $27,509,000 after acquiring an additional 67,138 shares during the period. Vanguard Group Inc. grew its position in shares of Quanterix by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company's stock valued at $23,569,000 after purchasing an additional 19,386 shares during the last quarter. Millennium Management LLC increased its stake 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 worth $23,228,000 after purchasing an additional 122,969 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Quanterix during the 4th quarter worth about $11,290,000. Institutional investors and hedge funds own 86.48% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QTRX shares. Leerink Partnrs lowered Quanterix from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Leerink Partners reaffirmed a "market perform" rating and set a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Scotiabank reissued an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th. Canaccord Genuity Group dropped their price objective on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen lowered shares of Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.50.

Insiders Place Their Bets

In other news, Director David R. Walt bought 123,990 shares of Quanterix stock in a transaction dated Friday, June 13th. The shares were bought at an average price of $6.14 per share, for a total transaction of $761,298.60. Following the purchase, the director owned 1,866,933 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is available through this link. Also, Director William P. Donnelly bought 93,113 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 139,094 shares in the company, valued at $756,671.36. This represents a 202.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 463,113 shares of company stock worth $2,625,444 over the last quarter. Company insiders own 6.90% of the company's stock.

Quanterix Stock Performance

Shares of NASDAQ:QTRX traded up $0.16 during midday trading on Monday, reaching $6.05. 535,507 shares of the company's stock were exchanged, compared to its average volume of 793,400. The company's 50 day simple moving average is $5.72 and its two-hundred day simple moving average is $7.01. Quanterix Corporation has a 12 month low of $4.05 and a 12 month high of $16.74. The firm has a market capitalization of $302.20 million, a PE ratio of -4.65 and a beta of 1.13.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.16. Quanterix had a negative net margin of 36.82% and a negative return on equity of 15.07%. The firm had revenue of $30.33 million during the quarter, compared to analysts' expectations of $28.27 million. On average, research analysts anticipate that Quanterix Corporation will post -0.98 earnings per share for the current 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.