Quanterix (NASDAQ:QTRX) Trading 7.2% Higher

Quanterix Corp (NASDAQ:QTRX)’s stock price traded up 7.2% during trading on Friday . The company traded as high as $28.07 and last traded at $27.91, 310,900 shares traded hands during mid-day trading. An increase of 127% from the average session volume of 136,857 shares. The stock had previously closed at $26.04.

A number of equities research analysts recently commented on the stock. BTIG Research set a $35.00 price target on shares of Quanterix and gave the stock a “buy” rating in a report on Wednesday, August 7th. ValuEngine cut shares of Quanterix from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research cut shares of Quanterix from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price target on shares of Quanterix in a report on Wednesday, July 24th.

The company has a quick ratio of 4.91, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $30.42 and its 200 day moving average is $26.11.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The company had revenue of $13.54 million during the quarter, compared to the consensus estimate of $11.40 million. Quanterix had a negative return on equity of 74.78% and a negative net margin of 78.07%. On average, analysts expect that Quanterix Corp will post -1.52 earnings per share for the current fiscal year.

In related news, Chairman E Kevin Hrusovsky sold 3,073 shares of Quanterix stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $26.00, for a total value of $79,898.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David C. Duffy sold 1,667 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $29.49, for a total transaction of $49,159.83. The disclosure for this sale can be found here. Insiders sold a total of 13,193 shares of company stock worth $407,257 in the last ninety days. 30.80% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in Quanterix by 5,803.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,830 shares of the company’s stock valued at $47,000 after acquiring an additional 1,799 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Quanterix during the 2nd quarter valued at $76,000. Bank of Montreal Can raised its holdings in Quanterix by 3,159.2% during the 1st quarter. Bank of Montreal Can now owns 3,911 shares of the company’s stock valued at $101,000 after acquiring an additional 3,791 shares during the period. Bank of America Corp DE raised its holdings in Quanterix by 386.4% during the 4th quarter. Bank of America Corp DE now owns 5,817 shares of the company’s stock valued at $107,000 after acquiring an additional 4,621 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in Quanterix during the 2nd quarter valued at $212,000. 46.27% of the stock is currently owned by institutional investors and hedge funds.

About Quanterix (NASDAQ:QTRX)

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 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.

Read More: How do CD ladders protect against rising interest rates?

Receive News & Ratings for Quanterix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanterix and related companies with MarketBeat.com's FREE daily email newsletter.