Quanterix Corporation (NASDAQ:QTRX) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Quanterix Corporation (NASDAQ:QTRX) has received a consensus rating of "Hold" from five research firms, with an average price target of $13.50.
• Insider activity includes significant stock purchases, with Director William P. Donnelly acquiring 93,113 shares at an average price of $5.44 per share.
• The company's recent earnings report showed an EPS of ($0.47), missing estimates, and revenue of $24.48 million, below the consensus estimate of $29.73 million.

Quanterix Corporation (NASDAQ:QTRX - Get Free Report) has earned a consensus rating of "Hold" from the five brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.75.

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group reiterated a "hold" rating and set a $5.00 price target (down from $12.00) on shares of Quanterix in a report on Monday. Leerink Partnrs cut Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Leerink Partners restated a "market perform" rating and set a $8.00 price objective (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th.

Insider Activity at Quanterix

In related news, Director David R. Walt acquired 131,869 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average cost of $5.43 per share, for a total transaction of $716,048.67. Following the completion of the acquisition, the director directly owned 1,628,802 shares of the company's stock, valued at approximately $8,844,394.86. This trade represents a 8.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William P. Donnelly bought 93,113 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $5.44 per share, with a total value of $506,534.72. Following the completion of the transaction, the director owned 139,094 shares in the company, valued at $756,671.36. The trade was a 202.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 463,113 shares of company stock valued at $2,625,444. Corporate insiders own 6.90% of the company's stock.

Institutional Investors Weigh In On Quanterix

Several institutional investors and hedge funds have recently made changes to their positions in QTRX. State of Wyoming acquired a new position in shares of Quanterix in the first quarter worth approximately $47,000. Resona Asset Management Co. Ltd. acquired a new stake in Quanterix during the 4th quarter valued at approximately $55,000. Tower Research Capital LLC TRC raised its holdings in Quanterix by 219.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock worth $61,000 after purchasing an additional 3,915 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Quanterix in the 4th quarter worth approximately $66,000. Finally, Quantbot Technologies LP boosted its stake in shares of Quanterix by 245.9% in the 1st quarter. Quantbot Technologies LP now owns 11,272 shares of the company's stock valued at $73,000 after purchasing an additional 8,013 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company's stock.

Quanterix Price Performance

QTRX stock traded up $0.20 during midday trading on Friday, reaching $4.96. The company had a trading volume of 170,499 shares, compared to its average volume of 780,597. Quanterix has a 1-year low of $4.05 and a 1-year high of $15.85. The stock has a 50 day moving average price of $5.95 and a 200-day moving average price of $6.33. The company has a market capitalization of $230.29 million, a price-to-earnings ratio of -2.72 and a beta of 1.07.

Quanterix (NASDAQ:QTRX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.06). The business had revenue of $24.48 million during the quarter, compared to the consensus estimate of $29.73 million. Quanterix had a negative net margin of 56.04% and a negative return on equity of 18.41%. As a group, research analysts anticipate that Quanterix will post -0.98 earnings per share for the current year.

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.