Insider Selling: Quanterix Co. (NASDAQ:QTRX) Director Sells 1,000 Shares of Stock

Quanterix Co. (NASDAQ:QTRX - Get Free Report) Director Laurie J. Olson sold 1,000 shares of Quanterix stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.50, for a total value of $23,500.00. Following the sale, the director now owns 15,238 shares of the company's stock, valued at $358,093. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Quanterix Stock Down 8.3 %

NASDAQ QTRX traded down $1.97 on Tuesday, reaching $21.81. The company had a trading volume of 336,535 shares, compared to its average volume of 336,529. The stock's 50 day moving average is $24.81 and its 200-day moving average is $24.31. The stock has a market cap of $830.09 million, a price-to-earnings ratio of -25.36 and a beta of 1.30. Quanterix Co. has a 52 week low of $10.64 and a 52 week high of $29.70.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. The business had revenue of $31.55 million during the quarter, compared to the consensus estimate of $27.92 million. As a group, analysts forecast that Quanterix Co. will post -1.04 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Scotiabank boosted their price target on Quanterix from $30.00 to $32.00 and gave the company a "sector outperform" rating in a research note on Monday, March 4th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $32.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QTRX. Gotham Asset Management LLC bought a new position in Quanterix during the 3rd quarter worth $423,000. Lord Abbett & CO. LLC acquired a new position in Quanterix during the 3rd quarter worth about $27,744,000. Emerald Mutual Fund Advisers Trust lifted its holdings in Quanterix by 353.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 313,044 shares of the company's stock worth $8,496,000 after buying an additional 243,994 shares during the period. Emerald Advisers LLC acquired a new position in Quanterix during the 3rd quarter worth about $10,462,000. Finally, Trexquant Investment LP acquired a new position in Quanterix during the 3rd quarter worth about $1,049,000. 86.48% of the stock is owned by institutional investors and hedge funds.

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.