Quanterix Corporation (NASDAQ:QTRX) Given Consensus Rating of "Hold" by Analysts

Key Points

• Quanterix Corporation (NASDAQ:QTRX) has received a consensus rating of "Hold" from analysts, with one analyst recommending a buy and the average 12-month price target set at $11.75.
• Key institutional investors have significantly increased their holdings, with Balyasny Asset Management ramping up its stake by 1,625.2% during the second quarter.
• Quanterix reported a loss of $0.47 per share for the most recent quarter, missing estimates, with revenue also falling short at $24.48 million compared to expectations of $29.73 million.

Quanterix Corporation (NASDAQ:QTRX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.75.

Separately, Canaccord Genuity Group reissued a "hold" rating and set a $5.00 price target (down from $12.00) on shares of Quanterix in a research note on Monday, August 11th.

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming lifted its stake in shares of Quanterix by 105.3% during the 2nd quarter. State of Wyoming now owns 14,814 shares of the company's stock worth $99,000 after acquiring an additional 7,599 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Quanterix during the 2nd quarter worth approximately $96,000. Balyasny Asset Management L.P. lifted its stake in shares of Quanterix by 1,625.2% during the 2nd quarter. Balyasny Asset Management L.P. now owns 767,801 shares of the company's stock worth $5,106,000 after acquiring an additional 723,295 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Quanterix by 14.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,236,877 shares of the company's stock worth $28,175,000 after acquiring an additional 521,639 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Quanterix during the 2nd quarter worth approximately $317,000. 86.48% of the stock is owned by institutional investors.

Quanterix Stock Performance

Shares of Quanterix stock opened at $5.19 on Friday. The stock has a market cap of $241.16 million, a price-to-earnings ratio of -2.85 and a beta of 1.03. The stock has a 50 day moving average price of $5.10 and a 200-day moving average price of $5.59. Quanterix has a one year low of $4.05 and a one year high of $15.67.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.06). Quanterix had a negative return on equity of 18.41% and a negative net margin of 56.04%.The company had revenue of $24.48 million during the quarter, compared to analysts' expectations of $29.73 million. Quanterix has set its FY 2025 guidance at EPS. Sell-side analysts predict that Quanterix will post -0.98 earnings per share for the current fiscal year.

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.

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