Ameriprise Financial Inc. Increases Stock Position in Quanterix Co. (NASDAQ:QTRX)

Ameriprise Financial Inc. increased its position in Quanterix Co. (NASDAQ:QTRX - Free Report) by 111.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,205,928 shares of the company's stock after buying an additional 1,688,680 shares during the quarter. Ameriprise Financial Inc. owned 8.32% of Quanterix worth $34,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QTRX. Bank of New York Mellon Corp increased its holdings in Quanterix by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company's stock valued at $1,150,000 after purchasing an additional 1,963 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Quanterix by 219.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock valued at $61,000 after acquiring an additional 3,915 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Quanterix by 25.8% in the 4th quarter. Hsbc Holdings PLC now owns 19,371 shares of the company's stock worth $205,000 after purchasing an additional 3,974 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Quanterix by 64.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company's stock valued at $108,000 after purchasing an additional 4,000 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Quanterix by 21.9% in the fourth quarter. MetLife Investment Management LLC now owns 23,983 shares of the company's stock worth $255,000 after buying an additional 4,303 shares during the period. 86.48% of the stock is currently owned by institutional investors.

Quanterix Stock Up 6.4%

Quanterix stock traded up $0.29 during trading hours on Friday, hitting $4.79. The stock had a trading volume of 734,544 shares, compared to its average volume of 564,270. The stock's 50-day moving average price is $5.93 and its 200-day moving average price is $8.89. Quanterix Co. has a 12-month low of $4.05 and a 12-month high of $19.18. The stock has a market capitalization of $185.80 million, a P/E ratio of -4.52 and a beta of 1.12.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on QTRX shares. Leerink Partnrs cut Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Leerink Partners restated a "market perform" rating and issued a $8.00 price objective (down previously from $12.00) on shares of Quanterix in a report on Wednesday, April 30th. Scotiabank reaffirmed an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Finally, Canaccord Genuity Group dropped their price target on Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.60.

Quanterix 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.