Quanterix Co. (NASDAQ:QTRX) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in shares of Quanterix Co. (NASDAQ:QTRX - Free Report) by 55.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,100 shares of the company's stock after selling 73,005 shares during the period. Renaissance Technologies LLC owned about 0.15% of Quanterix worth $628,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Resona Asset Management Co. Ltd. bought a new position in shares of Quanterix in the fourth quarter worth about $55,000. KLP Kapitalforvaltning AS bought a new position in Quanterix in the 4th quarter worth approximately $66,000. Peapack Gladstone Financial Corp bought a new position in Quanterix in the 3rd quarter worth approximately $131,000. Levin Capital Strategies L.P. bought a new stake in shares of Quanterix during the fourth quarter valued at approximately $159,000. Finally, Tallon Kerry Patrick purchased a new position in shares of Quanterix in the fourth quarter worth $169,000. Institutional investors own 86.48% of the company's stock.

Quanterix Price Performance

Shares of QTRX traded down $0.20 during midday trading on Monday, hitting $5.81. The stock had a trading volume of 403,713 shares, compared to its average volume of 552,459. The stock's 50 day moving average is $6.31 and its 200 day moving average is $9.25. The firm has a market cap of $225.36 million, a PE ratio of -5.48 and a beta of 1.12. Quanterix Co. has a 1 year low of $4.67 and a 1 year high of $19.18.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The business had revenue of $35.16 million for the quarter, compared to analysts' expectations of $34.93 million. As a group, equities research analysts expect that Quanterix Co. will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on QTRX. Canaccord Genuity Group decreased their price target on shares of Quanterix from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Leerink Partners reissued a "market perform" rating and set a $8.00 price target (down from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Leerink Partnrs downgraded Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Scotiabank reiterated an "outperform" rating on shares of Quanterix in a research report on Tuesday, March 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Quanterix currently has an average rating of "Moderate Buy" and a consensus price target of $16.20.

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.