Quanterix (NASDAQ:QTRX) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Quanterix from “Hold” to “Sell,” while other analysts maintained “Hold” ratings. MarketBeat reports an overall “Reduce” consensus and an average price target of $3.50.
• Quanterix shares opened at $2.59, down 9.4%, and remain well below their 50-day and 200-day moving averages. The stock has traded between $2.15 and $8.77 over the past year.
• The company’s latest quarterly results missed expectations, reporting an adjusted loss of $1.04 per share versus the $0.41 consensus estimate and revenue of $32.91 million versus expectations of $37.48 million.

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

Several other analysts have also recently weighed in on QTRX. Weiss Ratings restated a "sell (e+)" rating on shares of Quanterix in a research report on Friday, August 7th. TD Cowen cut their target price on shares of Quanterix from $4.00 to $3.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, Canaccord Genuity Group reduced their target price on Quanterix from $8.00 to $4.00 and set a "hold" rating on the stock in a research note on Monday, April 20th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $3.50.

Quanterix Trading Down 9.4%

QTRX stock opened at $2.59 on Friday. The company's 50 day moving average is $3.62 and its 200 day moving average is $4.08. The stock has a market cap of $122.48 million, a price-to-earnings ratio of -0.98 and a beta of 1.07. Quanterix has a 1-year low of $2.15 and a 1-year high of $8.77.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.63). Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%. The company had revenue of $32.91 million during the quarter, compared to analysts' expectations of $37.48 million.

Institutional Investors Weigh In On Quanterix

A number of hedge funds have recently made changes to their positions in QTRX. Canada Pension Plan Investment Board bought a new position in shares of Quanterix during the 2nd quarter valued at $165,000. The Manufacturers Life Insurance Company purchased a new position in Quanterix in the 2nd quarter worth $60,000. Algert Global LLC bought a new stake in Quanterix in the second quarter worth $239,000. Ieq Capital LLC bought a new stake in Quanterix in the second quarter worth $153,000. Finally, BlackRock Inc. purchased a new stake in Quanterix during the second quarter valued at about $15,705,000. 86.48% of the stock is currently owned by institutional investors.

Quanterix Company Profile

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company's core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.

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