Quanterix (NASDAQ:QTRX) Cut to "Sell" at Wall Street Zen

Quanterix (NASDAQ:QTRX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Several other research analysts have also weighed in on the company. Scotiabank reiterated an "outperform" rating on shares of Quanterix in a research report on Tuesday, March 25th. Leerink Partnrs lowered shares of Quanterix from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Leerink Partners reaffirmed a "market perform" rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group dropped their price target on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $15.60.

Quanterix Stock Performance

Shares of NASDAQ QTRX traded up $0.02 during trading on Thursday, hitting $4.83. 133,309 shares of the company were exchanged, compared to its average volume of 569,195. The company has a fifty day moving average price of $5.74 and a 200-day moving average price of $8.66. The firm has a market capitalization of $187.35 million, a PE ratio of -4.57 and a beta of 1.12. Quanterix has a 12-month low of $4.05 and a 12-month high of $19.18.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.16. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The company had revenue of $30.33 million for the quarter, compared to the consensus estimate of $28.27 million. Research analysts anticipate that Quanterix will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanterix

Several hedge funds have recently bought and sold shares of QTRX. Ameriprise Financial Inc. grew its position in Quanterix by 111.3% in the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock valued at $34,079,000 after acquiring an additional 1,688,680 shares in the last quarter. Portolan Capital Management LLC boosted its stake in shares of Quanterix by 2.7% in the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company's stock valued at $27,509,000 after purchasing an additional 67,138 shares during the period. Vanguard Group Inc. grew its holdings in shares of Quanterix by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company's stock valued at $23,569,000 after purchasing an additional 19,386 shares in the last quarter. Millennium Management LLC increased its stake in Quanterix by 6.0% during the 4th quarter. Millennium Management LLC now owns 2,185,101 shares of the company's stock worth $23,228,000 after buying an additional 122,969 shares during the period. Finally, Easterly Investment Partners LLC lifted its holdings in Quanterix by 38.8% during the 1st quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company's stock worth $8,630,000 after buying an additional 370,625 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company's stock.

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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