Granahan Investment Management LLC Has $5.70 Million Stock Holdings in Quanterix Co. (NASDAQ:QTRX)

Granahan Investment Management LLC decreased its position in Quanterix Co. (NASDAQ:QTRX) by 51.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 536,417 shares of the company’s stock after selling 566,214 shares during the period. Granahan Investment Management LLC owned approximately 1.39% of Quanterix worth $5,702,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. acquired a new position in Quanterix in the fourth quarter valued at about $55,000. Tower Research Capital LLC TRC lifted its holdings in shares of Quanterix by 219.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock valued at $61,000 after purchasing an additional 3,915 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Quanterix in the 4th quarter valued at approximately $66,000. Canada Pension Plan Investment Board increased its stake in Quanterix by 64.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company’s stock worth $108,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Quanterix during the 4th quarter worth approximately $108,000. Institutional investors own 86.48% of the company’s stock.

Quanterix Price Performance

Quanterix stock opened at $5.28 on Friday. The company has a market cap of $204.81 million, a price-to-earnings ratio of -4.98 and a beta of 1.12. The firm has a 50-day moving average of $6.15 and a 200-day moving average of $9.10. Quanterix Co. has a one year low of $4.67 and a one year high of $19.18.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. As a group, sell-side analysts expect that Quanterix Co. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Leerink Partners reissued a “market perform” rating and issued a $8.00 price target (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Leerink Partnrs lowered Quanterix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Scotiabank reiterated an “outperform” rating on shares of Quanterix in a report on Tuesday, March 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Quanterix currently has an average rating of “Moderate Buy” and an average target price of $16.20.

About Quanterix

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. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.