Invenomic Capital Management LP Acquires New Stake 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 acquired a new position in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 902,043 shares of the company's stock, valued at approximately $5,872,000. Invenomic Capital Management LP owned 2.33% of Quanterix at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Quanterix in the 1st quarter valued at $98,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Quanterix in the 1st quarter valued at $1,870,000. Two Sigma Investments LP acquired a new stake in shares of Quanterix in the 4th quarter valued at $606,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Quanterix by 18.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,878 shares of the company's stock valued at $361,000 after purchasing an additional 5,385 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Quanterix during the 4th quarter valued at $570,000. Institutional investors own 86.48% of the company's stock.

Analyst Ratings Changes

QTRX has been the topic of several recent research reports. Wall Street Zen downgraded Quanterix from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Canaccord Genuity Group reissued a "hold" rating and set a $5.00 price objective (down previously from $12.00) on shares of Quanterix in a report on Monday, August 11th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Quanterix currently has a consensus rating of "Hold" and an average target price of $11.75.

Quanterix Stock Performance

Shares of QTRX stock traded up $0.20 during mid-day trading on Thursday, hitting $4.53. The company's stock had a trading volume of 330,338 shares, compared to its average volume of 771,906. Quanterix Corporation has a 52 week low of $4.05 and a 52 week high of $15.85. The company has a market cap of $210.28 million, a PE ratio of -2.49 and a beta of 1.03. The company's fifty day simple moving average is $5.29 and its 200-day simple moving average is $5.79.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its 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 firm had revenue of $24.48 million during the quarter, compared to the consensus estimate of $29.73 million. Quanterix has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Quanterix Corporation will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David R. Walt bought 123,990 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was acquired 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 of the company's stock, valued at approximately $11,462,968.62. This represents a 7.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% 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.