Envestnet Asset Management Inc. Acquires 158,134 Shares of Quanterix Corporation (NASDAQ:QTRX)

Envestnet Asset Management Inc. lifted its holdings in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 500,398 shares of the company's stock after purchasing an additional 158,134 shares during the period. Envestnet Asset Management Inc. owned about 1.29% of Quanterix worth $3,258,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ameriprise Financial Inc. grew its stake in shares of Quanterix by 111.3% during the fourth 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 grew its position in Quanterix by 2.7% during the 4th quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company's stock worth $27,509,000 after acquiring an additional 67,138 shares during the last quarter. Vanguard Group Inc. grew its position in Quanterix by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company's stock worth $23,569,000 after acquiring an additional 19,386 shares during the last quarter. Millennium Management LLC grew its position in Quanterix by 6.0% during the 4th quarter. Millennium Management LLC now owns 2,185,101 shares of the company's stock worth $23,228,000 after acquiring an additional 122,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Quanterix by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 893,645 shares of the company's stock worth $9,500,000 after acquiring an additional 6,099 shares during the last quarter. 86.48% of the stock is owned by institutional investors.

Insider Activity at Quanterix

In other news, Director William P. Donnelly acquired 93,113 shares of the business's stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $5.44 per share, with a total value of $506,534.72. Following the transaction, the director owned 139,094 shares in the company, valued at $756,671.36. The trade was a 202.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David R. Walt purchased 123,990 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average price of $6.14 per share, for a total transaction of $761,298.60. Following the completion of the transaction, the director directly owned 1,866,933 shares of the company's stock, valued at $11,462,968.62. This represents a 7.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 463,113 shares of company stock worth $2,625,444. Insiders own 6.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Leerink Partnrs cut shares of Quanterix from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Wall Street Zen lowered shares of Quanterix from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Canaccord Genuity Group cut their price target 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, Leerink Partners reissued 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $13.50.

Quanterix Stock Up 6.2%

NASDAQ:QTRX opened at $5.85 on Friday. The stock has a market cap of $292.21 million, a P/E ratio of -4.50 and a beta of 1.13. The firm's fifty day simple moving average is $5.81 and its 200 day simple moving average is $6.65. Quanterix Corporation has a twelve month low of $4.05 and a twelve month high of $16.01.

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

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.

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