Portolan Capital Management LLC Sells 92,486 Shares of Quanterix Co. (NASDAQ:QTRX)

Portolan Capital Management LLC lowered its position in shares of Quanterix Co. (NASDAQ:QTRX) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 769,739 shares of the company’s stock after selling 92,486 shares during the period. Portolan Capital Management LLC owned about 2.06% of Quanterix worth $8,675,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its stake in shares of Quanterix by 184.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock valued at $404,000 after acquiring an additional 574 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Quanterix by 73.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock valued at $53,000 after acquiring an additional 784 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Quanterix by 2.6% in the 1st quarter. Rhumbline Advisers now owns 33,203 shares of the company’s stock valued at $969,000 after acquiring an additional 836 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Quanterix by 1.2% in the 1st quarter. JPMorgan Chase & Co. now owns 75,228 shares of the company’s stock valued at $2,196,000 after acquiring an additional 906 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Quanterix by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 253,886 shares of the company’s stock valued at $2,861,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Quanterix Trading Down 0.9 %

Shares of QTRX stock traded down $0.21 during midday trading on Monday, reaching $24.32. 37,030 shares of the stock were exchanged, compared to its average volume of 337,473. Quanterix Co. has a 1 year low of $8.02 and a 1 year high of $28.77. The company’s 50 day moving average is $24.38 and its two-hundred day moving average is $18.95. The firm has a market cap of $913.22 million, a PE ratio of -13.86 and a beta of 1.31.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, August 7th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.20. Quanterix had a negative return on equity of 12.60% and a negative net margin of 58.80%. The firm had revenue of $31.03 million for the quarter, compared to the consensus estimate of $26.13 million. As a group, equities analysts expect that Quanterix Co. will post -0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QTRX has been the subject of a number of recent analyst reports. Leerink Partnrs raised Quanterix from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 8th. SVB Securities raised Quanterix from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Tuesday, August 8th. Finally, The Goldman Sachs Group upped their price target on Quanterix from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th.

Quanterix 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. 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.