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

Key Points

• Envestnet Asset Management Inc. increased its holdings in Quanterix Corporation by 46.2%, acquiring an additional 158,134 shares, bringing its total stake to approximately $3.26 million.
• Insider transactions revealed that Director William P. Donnelly purchased 93,113 shares at $5.44 each, representing a 202.50% increase in his ownership; meanwhile, Director David R. Walt acquired 123,990 shares at $6.14.
• Analyst ratings for Quanterix have shifted recently, with several firms downgrading the stock, leading to a consensus rating of "Hold" and a target price reduction from $12.00 to $8.00.

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

A number of other institutional investors and hedge funds also recently modified their holdings of QTRX. Tower Research Capital LLC TRC raised its position in shares of Quanterix by 219.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock worth $61,000 after purchasing an additional 3,915 shares during the period. Hsbc Holdings PLC lifted its stake in Quanterix by 25.8% in the 4th quarter. Hsbc Holdings PLC now owns 19,371 shares of the company's stock worth $205,000 after acquiring an additional 3,974 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Quanterix by 64.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company's stock worth $108,000 after purchasing an additional 4,000 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Quanterix by 21.9% during the fourth quarter. MetLife Investment Management LLC now owns 23,983 shares of the company's stock worth $255,000 after acquiring an additional 4,303 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Quanterix by 16.3% during the 4th quarter. Invesco Ltd. now owns 33,654 shares of the company's stock valued at $358,000 after buying an additional 4,729 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company's stock.

Analyst Ratings Changes

QTRX has been the subject of several analyst reports. Leerink Partnrs lowered Quanterix from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Canaccord Genuity Group decreased their price target on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Leerink Partners reaffirmed a "market perform" rating and set a $8.00 price objective (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Finally, Wall Street Zen downgraded Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Quanterix has an average rating of "Hold" and an average target price of $13.50.

Quanterix Stock Performance

Shares of NASDAQ:QTRX traded up $0.01 during midday trading on Wednesday, reaching $6.09. 685,664 shares of the company's stock were exchanged, compared to its average volume of 636,309. The firm has a market capitalization of $304.20 million, a PE ratio of -4.68 and a beta of 1.13. The company's 50 day simple moving average is $5.86 and its two-hundred day simple moving average is $6.59. Quanterix Corporation has a 12 month low of $4.05 and a 12 month high of $15.85.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping 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 business had revenue of $30.33 million during the quarter, compared to the consensus estimate of $28.27 million. On average, research analysts anticipate that Quanterix Corporation will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William P. Donnelly purchased 93,113 shares of the business's stock in a transaction dated Friday, June 6th. The shares were acquired 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 of the company's stock, valued at $756,671.36. The trade was a 202.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David R. Walt bought 123,990 shares of the 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 acquisition, the director directly owned 1,866,933 shares in the company, valued at approximately $11,462,968.62. This trade represents a 7.11% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 463,113 shares of company stock valued at $2,625,444 over the last ninety days. Insiders own 6.90% of the company's stock.

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.