Quanterix (NASDAQ:QTRX) Shares Gap Down to $25.86

Quanterix Co. (NASDAQ:QTRXGet Rating) shares gapped down prior to trading on Monday . The stock had previously closed at $25.86, but opened at $25.01. Quanterix shares last traded at $24.93, with a volume of 905 shares trading hands.

A number of research analysts have issued reports on QTRX shares. SVB Leerink lowered their price objective on Quanterix from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd. The Goldman Sachs Group lowered their target price on Quanterix from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. JPMorgan Chase & Co. lowered their price objective on Quanterix from $85.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Finally, Zacks Investment Research upgraded Quanterix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $54.60.

The stock has a market cap of $897.22 million, a PE ratio of -15.74 and a beta of 1.51. The firm has a 50 day moving average price of $29.32 and a 200 day moving average price of $37.86.

Quanterix (NASDAQ:QTRXGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.11. Quanterix had a negative return on equity of 12.58% and a negative net margin of 52.18%. The firm had revenue of $29.31 million for the quarter, compared to analyst estimates of $29.00 million. During the same quarter last year, the firm posted ($0.31) earnings per share. On average, analysts expect that Quanterix Co. will post -2.26 earnings per share for the current year.

In other Quanterix news, CEO E Kevin Hrusovsky sold 1,364 shares of Quanterix stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $34.97, for a total value of $47,699.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David C. Duffy sold 3,266 shares of the firm’s stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $30.00, for a total value of $97,980.00. The disclosure for this sale can be found here. Insiders sold 15,470 shares of company stock worth $480,924 in the last quarter. 15.40% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Quanterix by 93.9% in the third quarter. Citigroup Inc. now owns 4,045 shares of the company’s stock valued at $201,000 after buying an additional 1,959 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Quanterix during the third quarter worth $227,000. Mackenzie Financial Corp acquired a new position in Quanterix during the third quarter worth $260,000. ProShare Advisors LLC acquired a new position in Quanterix during the fourth quarter worth $286,000. Finally, Arizona State Retirement System boosted its stake in Quanterix by 2.8% during the third quarter. Arizona State Retirement System now owns 7,918 shares of the company’s stock worth $394,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.

Quanterix Company Profile (NASDAQ:QTRX)

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. It offers HD-X 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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