Platinum Investment Management Ltd. Trims Stock Position in Quanterix Co. (NASDAQ:QTRX)

Platinum Investment Management Ltd. lowered its holdings in shares of Quanterix Co. (NASDAQ:QTRX) by 28.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 716,001 shares of the company’s stock after selling 289,869 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Quanterix were worth $16,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QTRX. US Bancorp DE increased its holdings in Quanterix by 35.6% in the 2nd quarter. US Bancorp DE now owns 1,709 shares of the company’s stock worth $39,000 after acquiring an additional 449 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Quanterix by 184.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after acquiring an additional 574 shares in the last quarter. American International Group Inc. increased its holdings in Quanterix by 3.5% in the 2nd quarter. American International Group Inc. now owns 16,959 shares of the company’s stock worth $382,000 after acquiring an additional 576 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Quanterix by 73.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after acquiring an additional 784 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Quanterix by 2.6% in the 1st quarter. Rhumbline Advisers now owns 33,203 shares of the company’s stock worth $969,000 after acquiring an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QTRX. The Goldman Sachs Group raised shares of Quanterix from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. Leerink Partnrs raised shares of Quanterix from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 8th. Canaccord Genuity Group raised shares of Quanterix from a “hold” rating to a “buy” rating and increased their price objective for the company from $25.00 to $32.00 in a report on Monday, September 25th. SVB Securities raised shares of Quanterix from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Tuesday, August 8th. Finally, Canaccord Genuity Group raised shares of Quanterix from a “hold” rating to a “buy” rating and increased their price objective for the company from $25.00 to $32.00 in a report on Monday, September 25th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Quanterix presently has an average rating of “Buy” and a consensus target price of $32.00.

Insider Activity

In other news, Director William P. Donnelly bought 20,200 shares of the stock in a transaction dated Friday, September 8th. The stock was purchased at an average cost of $24.85 per share, for a total transaction of $501,970.00. Following the transaction, the director now owns 28,438 shares of the company’s stock, valued at $706,684.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.80% of the company’s stock.

Quanterix Price Performance

Shares of NASDAQ QTRX traded up $0.16 during midday trading on Tuesday, reaching $23.34. 63,362 shares of the stock traded hands, compared to its average volume of 348,005. The stock has a market capitalization of $882.95 million, a PE ratio of -22.46 and a beta of 1.28. Quanterix Co. has a one year low of $10.02 and a one year high of $28.77. The company’s 50 day moving average is $23.36 and its 200 day moving average is $22.99.

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. 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.