Short Interest in Quanterix Co. (NASDAQ:QTRX) Expands By 25.7%

Quanterix Co. (NASDAQ:QTRX) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,000,000 shares, an increase of 25.7% from the August 15th total of 795,300 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average daily volume of 346,200 shares, the days-to-cover ratio is currently 2.9 days.

Quanterix Stock Down 3.0 %

Shares of NASDAQ QTRX traded down $0.80 during midday trading on Friday, hitting $25.73. The company had a trading volume of 394,892 shares, compared to its average volume of 248,708. The firm has a market capitalization of $966.16 million, a price-to-earnings ratio of -14.54 and a beta of 1.31. Quanterix has a twelve month low of $8.02 and a twelve month high of $28.77. The business has a 50-day simple moving average of $24.73 and a two-hundred day simple moving average of $19.40.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.20. The company had revenue of $31.03 million during the quarter, compared to analysts’ expectations of $26.13 million. Quanterix had a negative net margin of 58.80% and a negative return on equity of 12.60%. On average, equities analysts forecast that Quanterix will post -0.97 EPS for the current year.

Insider Buying and Selling at Quanterix

In related news, Director William P. Donnelly purchased 20,200 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average price of $24.85 per share, with a total value of $501,970.00. Following the completion of the acquisition, the director now directly owns 28,438 shares in the company, valued at approximately $706,684.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Quanterix

A number of institutional investors have recently bought and sold shares of QTRX. Advisor Group Holdings Inc. raised its stake in shares of Quanterix by 184.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after buying an additional 574 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Quanterix by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 75,228 shares of the company’s stock valued at $2,196,000 after purchasing an additional 906 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Quanterix by 73.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after purchasing an additional 784 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Quanterix by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 17,799 shares of the company’s stock valued at $520,000 after buying an additional 6,569 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Quanterix by 6.7% during the 1st quarter. Panagora Asset Management Inc. now owns 44,750 shares of the company’s stock valued at $1,306,000 after buying an additional 2,793 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QTRX. The Goldman Sachs Group boosted their price target on shares of Quanterix from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. SVB Securities raised Quanterix from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Tuesday, August 8th. Finally, Leerink Partnrs raised Quanterix from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 8th.

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. 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.