Bank of New York Mellon Corp Raises Stock Holdings in Quanterix Co. (NASDAQ:QTRX)

Bank of New York Mellon Corp raised its position in Quanterix Co. (NASDAQ:QTRX) by 14.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 132,100 shares of the company’s stock after purchasing an additional 16,395 shares during the period. Bank of New York Mellon Corp’s holdings in Quanterix were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in Quanterix by 17.4% during the fourth quarter. Russell Investments Group Ltd. now owns 20,046 shares of the company’s stock worth $548,000 after acquiring an additional 2,973 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Quanterix by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 295,811 shares of the company’s stock valued at $8,087,000 after purchasing an additional 28,784 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Quanterix by 70.2% in the fourth quarter. BNP Paribas Financial Markets now owns 51,838 shares of the company’s stock valued at $1,417,000 after acquiring an additional 21,385 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Quanterix by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after acquiring an additional 131,195 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Quanterix during the fourth quarter worth about $240,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

Insider Activity

In other Quanterix news, Director David R. Walt acquired 47,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the purchase, the director now directly owns 1,487,342 shares in the company, valued at $19,766,775.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.90% of the company’s stock.

Quanterix Price Performance

Quanterix stock opened at $14.14 on Thursday. The stock’s 50-day moving average is $13.40 and its 200-day moving average is $16.55. The company has a market cap of $541.14 million, a price-to-earnings ratio of -14.73 and a beta of 1.36. Quanterix Co. has a 12 month low of $10.50 and a 12 month high of $29.70.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $34.19 million. During the same quarter last year, the business earned ($0.16) earnings per share. Research analysts anticipate that Quanterix Co. will post -0.88 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Scotiabank reduced their target price on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group reduced their target price on Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, TD Cowen reduced their target price on Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Quanterix has a consensus rating of “Moderate Buy” and an average price target of $24.80.

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.