Quanterix Corp (NASDAQ:QTRX) shot up 23% during mid-day trading on Thursday . The stock traded as high as $24.86 and last traded at $23.73, 574,613 shares traded hands during mid-day trading. An increase of 263% from the average session volume of 158,108 shares. The stock had previously closed at $19.29.
Several research firms have issued reports on QTRX. BTIG Research set a $35.00 price target on Quanterix and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine cut Quanterix from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Canaccord Genuity reissued a “buy” rating and set a $35.00 target price on shares of Quanterix in a research note on Thursday. Finally, Zacks Investment Research raised shares of Quanterix from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, October 9th.
The company has a market capitalization of $511.36 million, a price-to-earnings ratio of -16.37 and a beta of 1.25. The firm’s 50 day simple moving average is $21.67 and its 200-day simple moving average is $26.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.91 and a current ratio of 5.43.
Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). The business had revenue of $13.54 million during the quarter, compared to the consensus estimate of $11.40 million. Quanterix had a negative return on equity of 74.78% and a negative net margin of 78.07%. As a group, equities analysts anticipate that Quanterix Corp will post -1.49 earnings per share for the current fiscal year.
In other Quanterix news, Director Marijn E. Dekkers sold 89,759 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $13.63, for a total transaction of $1,223,415.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Duffy sold 1,667 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.99, for a total transaction of $46,659.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,981 shares of company stock valued at $1,519,894. Company insiders own 30.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in QTRX. Ashford Capital Management Inc. acquired a new position in Quanterix during the 2nd quarter worth $13,333,000. BlackRock Inc. lifted its position in Quanterix by 29.7% during the 2nd quarter. BlackRock Inc. now owns 877,059 shares of the company’s stock worth $29,636,000 after acquiring an additional 200,999 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in Quanterix during the 3rd quarter worth $3,604,000. Tikvah Management LLC lifted its position in Quanterix by 125.0% during the 2nd quarter. Tikvah Management LLC now owns 238,489 shares of the company’s stock worth $8,059,000 after acquiring an additional 132,500 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Quanterix by 303.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 159,144 shares of the company’s stock worth $5,377,000 after acquiring an additional 119,691 shares during the last quarter. 61.37% of the stock is owned by hedge funds and other institutional investors.
Quanterix Company Profile (NASDAQ:QTRX)
Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.
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