Zacks Investment Research upgraded shares of Quanterix (NASDAQ:QTRX) from a sell rating to a hold rating in a report published on Tuesday, September 11th.
According to Zacks, “Quanterix Corporation is a developer of tools in high definition diagnostics. The Company focuses on research and diagnostics for brain injuries, heart disease, cancer and other diseases with its technology. It offers Simoa consumables, which include Simoa Discs, Simoa Cuvettes, Simoa Sealing Oil, Simoa Buffers and Disposable Tips. The company services include Simoa Accelerator Lab and custom assay development services. Quanterix Corporation is based in LEXINGTON, United States. “
Separately, ValuEngine upgraded Quanterix from a hold rating to a buy rating in a research note on Monday, June 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $26.50.
Shares of QTRX stock traded down $0.21 during midday trading on Tuesday, hitting $18.17. The company had a trading volume of 64,226 shares, compared to its average volume of 103,293. Quanterix has a 52-week low of $13.00 and a 52-week high of $24.81. The company has a market capitalization of $473.37 million and a P/E ratio of -2.19.
Quanterix (NASDAQ:QTRX) last announced its earnings results on Friday, August 10th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The business had revenue of $8.64 million during the quarter, compared to the consensus estimate of $7.92 million. Research analysts expect that Quanterix will post -1.2 EPS for the current year.
In other news, Chairman E Kevin Hrusovsky sold 2,995 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $20.91, for a total value of $62,625.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in shares of Quanterix in the first quarter worth $129,000. Acadian Asset Management LLC acquired a new position in shares of Quanterix in the second quarter worth $117,000. First Republic Investment Management Inc. acquired a new position in shares of Quanterix in the second quarter worth $235,000. Bank of New York Mellon Corp acquired a new position in shares of Quanterix in the second quarter worth $312,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Quanterix in the first quarter worth $374,000. 49.14% of the stock is owned by institutional investors.
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. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.
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