Granahan Investment Management LLC Decreases Stock Holdings in Quanterix Co. (NASDAQ:QTRX)

Granahan Investment Management LLC reduced its position in Quanterix Co. (NASDAQ:QTRX - Free Report) by 51.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,417 shares of the company's stock after selling 566,214 shares during the quarter. Granahan Investment Management LLC owned 1.39% of Quanterix worth $5,702,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. bought a new stake in shares of Quanterix in the 4th quarter valued at about $55,000. Tower Research Capital LLC TRC increased its holdings in Quanterix by 219.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock valued at $61,000 after buying an additional 3,915 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Quanterix during the 4th quarter worth $66,000. Canada Pension Plan Investment Board grew its position 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 worth $108,000 after buying an additional 4,000 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Quanterix during the 4th quarter valued at $108,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

Quanterix Stock Performance

NASDAQ QTRX traded up $0.27 during trading hours on Thursday, reaching $4.55. The stock had a trading volume of 456,716 shares, compared to its average volume of 562,268. The stock has a market cap of $176.49 million, a P/E ratio of -4.30 and a beta of 1.12. Quanterix Co. has a 52-week low of $4.05 and a 52-week high of $19.18. The stock has a fifty day moving average of $5.99 and a 200 day moving average of $8.95.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.16. The company had revenue of $30.33 million for the quarter, compared to the consensus estimate of $28.27 million. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. On average, equities research analysts forecast that Quanterix Co. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QTRX shares. Scotiabank reiterated an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Canaccord Genuity Group lowered their target price on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday. Leerink Partnrs downgraded shares of Quanterix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $15.60.

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.