Quanterix (NASDAQ:QTRX) Trading Down 6.8% – Here’s What Happened

Shares of Quanterix Corporation (NASDAQ:QTRX) dropped 6.8% during mid-day trading on Tuesday . The company traded as low as $3.97 and last traded at $4.00. 503,788 shares changed hands during trading, a decline of 55% from the average session volume of 1,114,123 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on QTRX shares. Weiss Ratings lowered Quanterix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Canaccord Genuity Group decreased their target price on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, April 20th. Wall Street Zen raised shares of Quanterix from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, TD Cowen dropped their price target on shares of Quanterix from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Quanterix presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Quanterix Stock Performance

The stock has a market capitalization of $188.44 million, a P/E ratio of -1.69 and a beta of 1.04. The business has a 50 day simple moving average of $3.27 and a 200-day simple moving average of $4.69.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.12. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $36.84 million. Quanterix had a negative return on equity of 23.92% and a negative net margin of 71.86%.

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently bought and sold shares of QTRX. Allspring Global Investments Holdings LLC boosted its position in shares of Quanterix by 10.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,560 shares of the company’s stock valued at $100,000 after purchasing an additional 1,457 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Quanterix by 6.5% in the 4th quarter. Deutsche Bank AG now owns 29,906 shares of the company’s stock worth $190,000 after purchasing an additional 1,817 shares in the last quarter. Intech Investment Management LLC lifted its stake in Quanterix by 13.4% during the third quarter. Intech Investment Management LLC now owns 19,161 shares of the company’s stock valued at $104,000 after purchasing an additional 2,268 shares during the last quarter. Jane Street Group LLC boosted its holdings in Quanterix by 4.2% during the first quarter. Jane Street Group LLC now owns 58,313 shares of the company’s stock worth $380,000 after buying an additional 2,366 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in Quanterix during the fourth quarter worth approximately $26,000. 86.48% of the stock is owned by institutional investors and hedge funds.

Quanterix Company Profile

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.