Kent Lake Capital LLC Sells 211,151 Shares of Quanterix Co. (NASDAQ:QTRX)

Kent Lake Capital LLC cut its holdings in Quanterix Co. (NASDAQ:QTRX - Free Report) by 52.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,849 shares of the company's stock after selling 211,151 shares during the quarter. Quanterix makes up approximately 2.0% of Kent Lake Capital LLC's holdings, making the stock its 23rd largest holding. Kent Lake Capital LLC owned about 0.50% of Quanterix worth $5,163,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Nebula Research & Development LLC bought a new stake in shares of Quanterix in the fourth quarter worth about $228,000. Superstring Capital Management LP bought a new stake in shares of Quanterix in the fourth quarter worth about $1,962,000. Balyasny Asset Management L.P. purchased a new stake in Quanterix in the fourth quarter worth about $779,000. Northern Trust Corp lifted its holdings in Quanterix by 3.9% in the fourth quarter. Northern Trust Corp now owns 366,073 shares of the company's stock worth $10,008,000 after buying an additional 13,795 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Quanterix by 200.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 5,365 shares of the company's stock worth $147,000 after buying an additional 3,579 shares during the period. 86.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Scotiabank raised their price objective on shares of Quanterix from $30.00 to $32.00 and gave the stock a "sector outperform" rating in a report on Monday, March 4th. Five 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, the company presently has a consensus rating of "Buy" and an average target price of $32.00.

Quanterix Stock Down 0.6 %

Shares of QTRX stock traded down $0.12 during trading hours on Friday, hitting $21.48. 161,242 shares of the company's stock traded hands, compared to its average volume of 340,274. The stock's fifty day simple moving average is $24.71 and its two-hundred day simple moving average is $24.24. Quanterix Co. has a 12-month low of $11.29 and a 12-month high of $29.70. The stock has a market cap of $817.53 million, a price-to-earnings ratio of -24.98 and a beta of 1.30.

Quanterix (NASDAQ:QTRX - Get Free Report) last released its 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 net margin of 26.42% and a negative return on equity of 9.15%. The business had revenue of $31.55 million for the quarter, compared to analysts' expectations of $27.92 million. On average, equities analysts forecast that Quanterix Co. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Laurie J. Olson sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the sale, the director now owns 15,238 shares of the company's stock, valued at $371,045.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.