Quanterix Co. (NASDAQ:QTRX - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,000,000 shares, a decline of 18.7% from the March 15th total of 1,230,000 shares. Based on an average daily trading volume, of 334,600 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.9% of the company's stock are short sold.
Insider Buying and Selling at Quanterix
In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of Quanterix stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the transaction, the director now owns 15,238 shares in the company, valued at $371,045.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by company insiders.
Institutional Trading of Quanterix
Several large investors have recently modified their holdings of QTRX. Lord Abbett & CO. LLC bought a new stake in shares of Quanterix in the third quarter worth $27,744,000. Deutsche Bank AG lifted its position in Quanterix by 6,788.3% during the fourth quarter. Deutsche Bank AG now owns 1,025,595 shares of the company's stock valued at $14,204,000 after purchasing an additional 1,010,706 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Quanterix by 206.0% during the fourth quarter. Point72 Asset Management L.P. now owns 1,090,826 shares of the company's stock valued at $15,108,000 after purchasing an additional 734,306 shares in the last quarter. Invesco Ltd. lifted its position in Quanterix by 73.3% during the first quarter. Invesco Ltd. now owns 1,097,126 shares of the company's stock valued at $32,026,000 after purchasing an additional 464,139 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new position in Quanterix during the third quarter valued at $10,462,000. Institutional investors own 86.48% of the company's stock.
Quanterix Stock Down 7.9 %
Shares of Quanterix stock traded down $1.58 on Friday, reaching $18.37. The company's stock had a trading volume of 458,660 shares, compared to its average volume of 348,677. The company has a market capitalization of $699.16 million, a price-to-earnings ratio of -21.36 and a beta of 1.30. The firm's fifty day simple moving average is $24.44 and its two-hundred day simple moving average is $24.06. Quanterix has a 52 week low of $11.39 and a 52 week high of $29.70.
Quanterix (NASDAQ:QTRX - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.33) 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 firm had revenue of $31.55 million during the quarter, compared to the consensus estimate of $27.92 million. As a group, research analysts predict that Quanterix will post -1.04 EPS for the current year.
Analyst Upgrades and Downgrades
Separately, Scotiabank lifted their target price on Quanterix from $30.00 to $32.00 and gave the stock a "sector outperform" rating in a report on Monday, March 4th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quanterix presently has an average rating of "Buy" and a consensus target price of $32.00.
Read Our Latest Report on QTRX
About Quanterix
(
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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.
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