Walleye Capital LLC Purchases 130,268 Shares of Quanterix Corporation $QTRX

Key Points

• Walleye Capital LLC increased its ownership in Quanterix Corporation by 265.2% in Q1, acquiring 130,268 shares, bringing their total to 179,389 shares valued at approximately $1.17 million.
• Quanterix reported a loss of $0.47 per share for the last quarter, missing estimates, and had a revenue of $24.48 million, falling short of analyst expectations of $29.73 million.
• A mix of institutional investors are significantly increasing their stakes in Quanterix, indicating strong interest in the company's potential, with insiders acquiring a total of 463,113 shares in the past ninety days.

Walleye Capital LLC lifted its stake in shares of Quanterix Corporation (NASDAQ:QTRX - Free Report) by 265.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 179,389 shares of the company's stock after acquiring an additional 130,268 shares during the period. Walleye Capital LLC owned approximately 0.46% of Quanterix worth $1,168,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Quanterix by 219.1% in 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 last quarter. Quantbot Technologies LP lifted its stake in shares of Quanterix by 245.9% in the 1st quarter. Quantbot Technologies LP now owns 11,272 shares of the company's stock valued at $73,000 after acquiring an additional 8,013 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Quanterix in the 1st quarter valued at about $79,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Quanterix in the 1st quarter valued at about $98,000. Finally, ProShare Advisors LLC bought a new stake in shares of Quanterix in the 4th quarter valued at about $108,000. 86.48% of the stock is owned by institutional investors.

Quanterix Stock Up 3.8%

QTRX traded up $0.17 during mid-day trading on Friday, reaching $4.49. 107,698 shares of the company traded hands, compared to its average volume of 774,996. The stock has a market capitalization of $208.42 million, a P/E ratio of -2.47 and a beta of 1.03. The company's fifty day moving average price is $5.48 and its 200-day moving average price is $5.88. 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 announced its 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). The company had revenue of $24.48 million for the quarter, compared to analysts' expectations of $29.73 million. Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. Quanterix has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Quanterix Corporation will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Quanterix

In related news, Director David R. Walt acquired 123,990 shares of Quanterix stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $6.14 per share, for a total transaction of $761,298.60. Following the purchase, the director directly owned 1,866,933 shares of the company's stock, valued at approximately $11,462,968.62. This trade represents a 7.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 238,131 shares of company stock valued at $1,402,860. Corporate insiders own 6.80% of the company's stock.

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.