Quanterix (NASDAQ:QTRX) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Quanterix (NASDAQ:QTRX) from a strong sell rating to a sell rating in a research note published on Thursday morning, BidAskClub reports.

QTRX has been the subject of several other reports. Zacks Investment Research downgraded shares of Quanterix from a buy rating to a hold rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. upped their price target on shares of Quanterix from $30.00 to $40.00 and gave the stock an overweight rating in a research report on Wednesday, August 5th. Canaccord Genuity reissued a buy rating and issued a $36.00 price objective on shares of Quanterix in a research report on Wednesday, July 29th. Finally, SVB Leerink boosted their price objective on Quanterix from $35.00 to $37.00 and gave the stock an outperform rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Quanterix presently has an average rating of Buy and a consensus price target of $35.75.

QTRX opened at $33.90 on Thursday. Quanterix has a 1 year low of $10.90 and a 1 year high of $37.77. The firm has a 50 day moving average price of $33.74 and a 200 day moving average price of $26.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.32 and a current ratio of 6.05. The company has a market cap of $964.12 million, a PE ratio of -21.59 and a beta of 1.78.

In related news, SVP David C. Duffy sold 1,667 shares of the stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $27.39, for a total value of $45,659.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin D. Madaus sold 3,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.24, for a total value of $83,968.00. The disclosure for this sale can be found here. Insiders sold 49,453 shares of company stock valued at $1,568,254 over the last 90 days. Insiders own 25.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. grew its position in shares of Quanterix by 1.7% during the second quarter. Macquarie Group Ltd. now owns 1,404,395 shares of the company’s stock worth $38,467,000 after buying an additional 22,826 shares in the last quarter. BlackRock Inc. grew its holdings in Quanterix by 2.5% during the 1st quarter. BlackRock Inc. now owns 1,233,402 shares of the company’s stock worth $22,659,000 after acquiring an additional 29,680 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Quanterix by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 984,171 shares of the company’s stock worth $26,956,000 after purchasing an additional 53,244 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Quanterix by 58.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 837,220 shares of the company’s stock worth $22,931,000 after purchasing an additional 309,584 shares during the last quarter. Finally, Ashford Capital Management Inc. raised its stake in shares of Quanterix by 5.0% in the 1st quarter. Ashford Capital Management Inc. now owns 652,524 shares of the company’s stock valued at $11,987,000 after purchasing an additional 31,010 shares in the last quarter. 71.50% of the stock is currently owned by institutional investors.

About Quanterix

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.

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