SCS Capital Management LLC Invests $2.31 Million in Quanterix Corporation $QTRX

Key Points

• SCS Capital Management LLC invested approximately $2.31 million in Quanterix Corporation, acquiring 354,339 shares, which represents about 0.91% ownership of the company.
• Quanterix reported a quarterly loss of ($0.47) earnings per share, missing analyst expectations, with revenue of $24.48 million compared to estimates of $29.73 million.
• Several research firms downgraded Quanterix's stock ratings, with a current consensus target price of $11.75 and a notable decrease in Canaccord Genuity's price target from $12.00 to $5.00.

SCS Capital Management LLC purchased a new stake in Quanterix Corporation (NASDAQ:QTRX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 354,339 shares of the company's stock, valued at approximately $2,307,000. SCS Capital Management LLC owned 0.91% of Quanterix as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in QTRX. Ameriprise Financial Inc. raised 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 purchasing an additional 1,688,680 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of Quanterix during the first quarter worth approximately $5,872,000. Trium Capital LLP acquired a new stake in shares of Quanterix during the first quarter worth approximately $3,642,000. Nuveen LLC acquired a new stake in shares of Quanterix during the first quarter worth approximately $2,704,000. Finally, Topline Capital Management LLC acquired a new stake in shares of Quanterix during the first quarter worth approximately $2,513,000. Hedge funds and other institutional investors own 86.48% of the company's stock.

Wall Street Analyst Weigh In

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

Quanterix Stock Performance

QTRX traded up $0.05 during trading on Monday, reaching $4.86. The company had a trading volume of 157,162 shares, compared to its average volume of 771,917. The firm's 50-day simple moving average is $5.21 and its 200 day simple moving average is $5.72. The company has a market cap of $225.61 million, a price-to-earnings ratio of -2.66 and a beta of 1.03. 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 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 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, sell-side analysts expect that Quanterix Corporation will post -0.98 EPS for the current year.

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.