Quanterix (NASDAQ:QTRX) Trading Down 3.6%

Quanterix Co. (NASDAQ:QTRX)’s share price was down 3.6% on Wednesday . The stock traded as low as $15.52 and last traded at $15.52. Approximately 45,270 shares changed hands during trading, a decline of 87% from the average daily volume of 343,587 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

Separately, Scotiabank lifted their price objective on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $32.00.

Quanterix Trading Down 2.7 %

The stock has a market capitalization of $599.38 million, a PE ratio of -18.72 and a beta of 1.30. The firm’s fifty day moving average is $23.49 and its 200-day moving average is $23.58.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The company had revenue of $31.55 million during the quarter, compared to analyst estimates of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. As a group, equities analysts predict that Quanterix Co. will post -1.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Laurie J. Olson sold 1,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the transaction, the director now owns 15,238 shares of the company’s stock, valued at approximately $371,045.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quanterix

Several large investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. purchased a new position in shares of Quanterix in the 3rd quarter valued at $67,000. AJOVista LLC purchased a new position in Quanterix during the 4th quarter worth $81,000. DekaBank Deutsche Girozentrale purchased a new position in Quanterix during the 3rd quarter worth $125,000. Picton Mahoney Asset Management purchased a new position in Quanterix during the 4th quarter worth $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Quanterix by 56.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,683 shares of the company’s stock worth $209,000 after purchasing an additional 2,775 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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.