Quanterix (NASDAQ:QTRX) Upgraded by Wall Street Zen to Hold Rating

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

QTRX has been the topic of a number of other reports. Canaccord Genuity Group decreased 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. TD Cowen cut their target price on shares of Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quanterix in a report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $3.00.

Quanterix Stock Performance

Quanterix stock opened at $3.07 on Friday. The company’s 50 day simple moving average is $3.16 and its 200-day simple moving average is $3.48. The company has a market capitalization of $145.18 million, a price-to-earnings ratio of -1.17 and a beta of 1.04. Quanterix has a 1 year low of $2.15 and a 1 year high of $8.77.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Monday, August 10th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.63). Quanterix had a negative return on equity of 26.09% and a negative net margin of 80.25%.The company had revenue of $32.91 million during the quarter, compared to analyst estimates of $37.48 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QTRX. Integrated Wealth Concepts LLC purchased a new position in shares of Quanterix in the 2nd quarter valued at about $31,000. AXQ Capital LP purchased a new stake in Quanterix during the fourth quarter worth approximately $70,000. HighTower Advisors LLC purchased a new stake in Quanterix during the second quarter worth approximately $59,000. The Manufacturers Life Insurance Company acquired a new position in Quanterix in the second quarter valued at approximately $60,000. Finally, Bank of America Corp DE acquired a new position in Quanterix in the second quarter valued at approximately $127,000. 86.48% of the stock is owned by institutional investors and hedge funds.

About Quanterix

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.