Quanterix (NASDAQ:QTRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quanterix (NASDAQ:QTRX) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

QTRX has been the subject of a number of other reports. TD Cowen decreased their price target on Quanterix from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, August 11th. Canaccord Genuity Group dropped their price target on Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Quanterix in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Quanterix Stock Performance

NASDAQ:QTRX opened at $3.04 on Friday. Quanterix has a fifty-two week low of $2.15 and a fifty-two week high of $8.77. The stock has a market capitalization of $143.76 million, a P/E ratio of -1.16 and a beta of 1.04. The company’s 50-day simple moving average is $3.14 and its 200-day simple moving average is $3.44.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, August 10th. The company reported ($1.04) EPS 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 firm had revenue of $32.91 million for the quarter, compared to analysts’ expectations of $37.48 million.

Hedge Funds Weigh In On Quanterix

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Quanterix in the second quarter worth about $31,000. HighTower Advisors LLC purchased a new position in Quanterix during the second quarter valued at approximately $59,000. Susquehanna Fundamental Investments LLC acquired a new position in Quanterix in the second quarter valued at approximately $168,000. Bank of America Corp DE acquired a new position in Quanterix in the second quarter valued at approximately $127,000. Finally, Canada Pension Plan Investment Board acquired a new position in Quanterix in the second quarter valued at approximately $165,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other biomarkers at concentrations significantly below the capabilities of many conventional immunoassay methods, supporting research into disease biology, diagnosis, treatment development and monitoring.

The company’s primary technology, Simoa, is used in its laboratory instruments, assay kits, consumables and software products.