Insider Buying: Quanterix Co. (NASDAQ:QTRX) Director Buys 78,131 Shares of Stock

Quanterix Co. (NASDAQ:QTRX) Director David R. Walt bought 78,131 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was bought at an average price of $5.34 per share, for a total transaction of $417,219.54. Following the completion of the acquisition, the director now directly owns 1,706,933 shares in the company, valued at approximately $9,115,022.22. The trade was a 4.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Quanterix Price Performance

QTRX traded down $0.31 during trading on Monday, hitting $5.06. The stock had a trading volume of 793,619 shares, compared to its average volume of 580,059. The firm has a market cap of $196.47 million, a price-to-earnings ratio of -4.77 and a beta of 1.05. The company has a 50 day moving average price of $5.28 and a 200-day moving average price of $7.87. Quanterix Co. has a one year low of $4.05 and a one year high of $19.18.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.16. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The company had revenue of $30.33 million during the quarter, compared to analysts’ expectations of $28.27 million. As a group, sell-side analysts predict that Quanterix Co. will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanterix

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its position in shares of Quanterix by 111.3% during the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock valued at $34,079,000 after purchasing an additional 1,688,680 shares in the last quarter. Portolan Capital Management LLC grew its holdings in Quanterix by 2.7% during the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company’s stock valued at $27,509,000 after purchasing an additional 67,138 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Quanterix by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock worth $23,569,000 after acquiring an additional 19,386 shares during the period. Millennium Management LLC boosted its stake in Quanterix by 6.0% during the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock valued at $23,228,000 after buying an additional 122,969 shares during the period. Finally, Easterly Investment Partners LLC boosted its stake in Quanterix by 38.8% during the first quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company’s stock valued at $8,630,000 after buying an additional 370,625 shares during the period. Institutional investors own 86.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on QTRX shares. Canaccord Genuity Group reduced their price objective on Quanterix from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Leerink Partnrs cut Quanterix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Leerink Partners reaffirmed a “market perform” rating and set a $8.00 price target (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Wall Street Zen lowered Quanterix from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.60.

Quanterix Company Profile

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.