Quanterix Corporation $QTRX Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Quanterix Corporation by 51.1%, now owning 606,787 shares valued at approximately $3.95 million.
• Quanterix has received mixed ratings from analysts, with price targets being revised down; Canaccord Genuity now targets $5.00, down from $12.00.
• Quanterix reported a loss of ($0.47) EPS for the last quarter, missing estimates, and anticipates a yearly loss of ($0.98) EPS.

Russell Investments Group Ltd. lifted its position in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 51.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 606,787 shares of the company's stock after acquiring an additional 205,311 shares during the quarter. Russell Investments Group Ltd. owned 1.56% of Quanterix worth $3,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QTRX. Envestnet Asset Management Inc. increased its position in Quanterix by 22.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 342,264 shares of the company's stock worth $3,638,000 after purchasing an additional 62,757 shares during the period. Invesco Ltd. grew its holdings in Quanterix by 16.3% during the fourth quarter. Invesco Ltd. now owns 33,654 shares of the company's stock worth $358,000 after acquiring an additional 4,729 shares during the period. Raymond James Financial Inc. acquired a new position in Quanterix during the fourth quarter worth $570,000. XTX Topco Ltd acquired a new position in shares of Quanterix during the 4th quarter worth $164,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Quanterix by 64.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company's stock valued at $108,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on QTRX shares. Wall Street Zen downgraded shares of Quanterix from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Leerink Partnrs lowered Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $5.00 price target (down previously from $12.00) on shares of Quanterix in a report on Monday, August 11th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $11.75.

Quanterix Stock Down 1.9%

Shares of QTRX traded down $0.09 on Wednesday, hitting $4.60. 381,392 shares of the stock traded hands, compared to its average volume of 787,169. The firm has a market capitalization of $213.76 million, a P/E ratio of -2.53 and a beta of 1.07. The stock's 50 day moving average is $5.73 and its two-hundred day moving average is $6.04. Quanterix Corporation has a 1 year low of $4.05 and a 1 year high of $15.85.

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

Insider Activity at Quanterix

In related news, Director William P. Donnelly bought 93,113 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 139,094 shares of the company's stock, valued at approximately $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 SEC, which is available at the SEC website. Also, Director David R. Walt purchased 123,990 shares of the firm's stock in a transaction on Friday, June 13th. The stock was bought at an average price of $6.14 per share, for a total transaction of $761,298.60. Following the acquisition, the director owned 1,866,933 shares in the company, 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. Insiders purchased 463,113 shares of company stock worth $2,625,444 over the last three months. Corporate 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.