Quanterix Co. (NASDAQ:QTRX) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Quanterix Co. (NASDAQ:QTRX) by 30.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,886 shares of the company’s stock after selling 4,375 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Quanterix were worth $128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QTRX. Easterly Investment Partners LLC raised its holdings in shares of Quanterix by 551.1% during the 1st quarter. Easterly Investment Partners LLC now owns 78,734 shares of the company’s stock valued at $1,855,000 after purchasing an additional 66,642 shares in the last quarter. Williams Jones Wealth Management LLC. acquired a new stake in shares of Quanterix during the 1st quarter valued at about $1,327,000. State Board of Administration of Florida Retirement System boosted its position in shares of Quanterix by 42.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the company’s stock valued at $338,000 after acquiring an additional 4,250 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Quanterix by 22.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after acquiring an additional 326,876 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Quanterix by 1,598.1% during the 1st quarter. Picton Mahoney Asset Management now owns 86,092 shares of the company’s stock valued at $2,027,000 after acquiring an additional 81,022 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on QTRX. Scotiabank cut their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group dropped their price target on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, TD Cowen dropped their price target on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 9th.

Insiders Place Their Bets

In other news, Director David R. Walt purchased 47,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were purchased at an average cost of $13.29 per share, with a total value of $624,630.00. Following the completion of the transaction, the director now owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Quanterix Stock Up 3.1 %

Quanterix stock opened at $13.85 on Tuesday. Quanterix Co. has a twelve month low of $10.50 and a twelve month high of $29.70. The company has a 50 day moving average of $12.72 and a 200-day moving average of $14.06. The stock has a market capitalization of $531.56 million, a PE ratio of -13.19 and a beta of 1.36.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Quanterix had a negative return on equity of 11.52% and a negative net margin of 30.71%. The firm had revenue of $34.38 million for the quarter, compared to the consensus estimate of $34.19 million. During the same period last year, the company posted ($0.16) earnings per share. Equities analysts anticipate that Quanterix Co. will post -0.88 EPS for the current fiscal year.

Quanterix Profile

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.