Emerald Mutual Fund Advisers Trust Lowers Stock Holdings in Quanterix Corporation (NASDAQ:QTRX)

Emerald Mutual Fund Advisers Trust lowered its holdings in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 96.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,277 shares of the company's stock after selling 208,583 shares during the quarter. Emerald Mutual Fund Advisers Trust's holdings in Quanterix were worth $54,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Quanterix by 23.9% during the fourth quarter. JPMorgan Chase & Co. now owns 270,054 shares of the company's stock valued at $2,871,000 after acquiring an additional 52,097 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Quanterix during the fourth quarter valued at approximately $606,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Quanterix by 18.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,878 shares of the company's stock valued at $361,000 after acquiring an additional 5,385 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quanterix during the fourth quarter valued at approximately $570,000. Finally, Jane Street Group LLC raised its holdings in shares of Quanterix by 18.1% during the fourth quarter. Jane Street Group LLC now owns 55,947 shares of the company's stock valued at $595,000 after acquiring an additional 8,578 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company's stock.

Quanterix Price Performance

Shares of NASDAQ:QTRX traded up $0.03 during midday trading on Friday, hitting $5.89. The company had a trading volume of 518,730 shares, compared to its average volume of 613,067. Quanterix Corporation has a twelve month low of $4.05 and a twelve month high of $16.74. The stock has a market cap of $294.21 million, a price-to-earnings ratio of -4.53 and a beta of 1.13. The business's 50-day simple moving average is $5.72 and its 200-day simple moving average is $7.04.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.16. Quanterix had a negative return on equity of 15.07% and a negative net margin of 36.82%. The firm had revenue of $30.33 million during the quarter, compared to analysts' expectations of $28.27 million. As a group, sell-side analysts forecast that Quanterix Corporation will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Quanterix

In other Quanterix news, Director William P. Donnelly bought 93,113 shares of the business's stock in a transaction on Friday, June 6th. The stock was bought at an average price of $5.44 per share, with a total value of $506,534.72. Following the completion of the purchase, the director directly owned 139,094 shares in the company, valued at $756,671.36. The trade was a 202.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David R. Walt bought 123,990 shares of the business's stock in a transaction on Friday, June 13th. The shares were acquired at an average cost of $6.14 per share, with a total value of $761,298.60. Following the purchase, the director owned 1,866,933 shares of the company's stock, valued at $11,462,968.62. The trade was a 7.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 463,113 shares of company stock valued at $2,625,444. 6.90% of the stock is owned by insiders.

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.