Quanterix (NASDAQ:QTRX) Price Target Cut to $25.00 by Analysts at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its price objective lowered by Canaccord Genuity Group from $32.00 to $25.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Scotiabank increased their price objective on shares of Quanterix from $30.00 to $32.00 and gave the company a sector outperform rating in a research note on Monday, March 4th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $30.60.

Quanterix Price Performance

Shares of QTRX opened at $15.58 on Monday. Quanterix has a 52 week low of $12.17 and a 52 week high of $29.70. The stock has a 50 day moving average price of $22.53 and a two-hundred day moving average price of $23.28.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. The company had revenue of $31.55 million for the quarter, compared to the consensus estimate of $27.92 million. On average, equities analysts anticipate that Quanterix will post -1.04 earnings per share for the current year.

Insider Activity at Quanterix

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the completion of the sale, the director now directly owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Quanterix

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Quanterix by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,997,295 shares of the company’s stock valued at $54,207,000 after buying an additional 26,660 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Quanterix by 49.6% in the third quarter. Invesco Ltd. now owns 1,103,981 shares of the company’s stock worth $29,962,000 after acquiring an additional 366,117 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Quanterix in the third quarter valued at $27,744,000. Dimensional Fund Advisors LP boosted its stake in Quanterix by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock worth $26,635,000 after purchasing an additional 131,195 shares during the period. Finally, Boone Capital Management LLC grew its holdings in Quanterix by 13.4% during the 3rd quarter. Boone Capital Management LLC now owns 568,544 shares of the company’s stock valued at $15,430,000 after buying an additional 67,400 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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.