Quanterix (NASDAQ:QTRX) Trading Down 3.6% – Here’s What Happened

Quanterix Corporation (NASDAQ:QTRX) traded down 3.6% on Tuesday . The stock traded as low as $6.64 and last traded at $6.66. 1,402,744 shares traded hands during trading, an increase of 124% from the average session volume of 625,595 shares. The stock had previously closed at $6.91.

Analyst Upgrades and Downgrades

QTRX has been the subject of several analyst reports. Wall Street Zen raised Quanterix from a “sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Quanterix in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Quanterix from $5.00 to $8.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.33.

Quanterix Trading Down 3.6%

The company has a market capitalization of $311.09 million, a PE ratio of -2.86 and a beta of 1.00. The firm’s 50-day simple moving average is $6.99 and its 200-day simple moving average is $5.90.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). The firm had revenue of $40.23 million during the quarter, compared to analysts’ expectations of $37.85 million. Quanterix had a negative net margin of 73.47% and a negative return on equity of 21.34%. As a group, analysts anticipate that Quanterix Corporation will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

A number of hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new position in Quanterix during the 4th quarter valued at about $26,000. Quarry LP increased its holdings in Quanterix by 277,300.0% during the third quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after buying an additional 5,546 shares during the period. R Squared Ltd bought a new position in Quanterix in the third quarter worth approximately $64,000. HUB Investment Partners LLC bought a new position in Quanterix in the second quarter worth approximately $81,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Quanterix during the second quarter worth $96,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.