Invenomic Capital Management LP Makes New Investment in Quanterix Corporation $QTRX

Key Points

• Invenomic Capital Management LP has acquired a new stake in Quanterix Corporation, purchasing 902,043 shares valued at approximately $5.87 million, which amounts to 2.33% of the company's total shares.
• A recent report by Canaccord Genuity Group has downgraded Quanterix's price target to $5.00, highlighting a bearish sentiment among analysts with a consensus rating of "Hold" and one "Buy" rating.
• Quanterix reported a quarterly earnings miss, with an EPS of ($0.47) compared to expectations of ($0.41), and generated revenue of $24.48 million, below the anticipated $29.73 million.

Invenomic Capital Management LP bought a new stake in Quanterix Corporation (NASDAQ:QTRX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 902,043 shares of the company's stock, valued at approximately $5,872,000. Invenomic Capital Management LP owned about 2.33% of Quanterix at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Quanterix in the first quarter valued at approximately $98,000. Cubist Systematic Strategies LLC bought a new position in shares of Quanterix during the 1st quarter worth approximately $1,870,000. Two Sigma Investments LP bought a new position in shares of Quanterix during the 4th quarter worth approximately $606,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Quanterix by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,878 shares of the company's stock worth $361,000 after buying an additional 5,385 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Quanterix during the 4th quarter worth approximately $570,000. 86.48% of the stock is currently owned by institutional investors.

Quanterix Stock Up 1.0%

NASDAQ QTRX traded up $0.05 on Wednesday, reaching $4.34. The company had a trading volume of 892,324 shares, compared to its average volume of 773,556. The stock has a market capitalization of $201.45 million, a P/E ratio of -2.38 and a beta of 1.03. The company's fifty day moving average is $5.34 and its 200 day moving average is $5.80. Quanterix Corporation has a 52-week low of $4.05 and a 52-week high of $15.85.

Quanterix (NASDAQ:QTRX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.06). Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. The company had revenue of $24.48 million during the quarter, compared to analysts' expectations of $29.73 million. Quanterix has set its FY 2025 guidance at EPS. On average, research analysts expect that Quanterix Corporation will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QTRX shares. Canaccord Genuity Group restated a "hold" rating and set a $5.00 price target (down from $12.00) on shares of Quanterix in a report on Monday, August 11th. Wall Street Zen lowered 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 Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Quanterix has a consensus rating of "Hold" and a consensus price target of $11.75.

Insider Activity

In other Quanterix news, Director David R. Walt bought 123,990 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $6.14 per share, with a total value of $761,298.60. Following the transaction, the director directly owned 1,866,933 shares in the company, valued at $11,462,968.62. This trade represents a 7.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

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.