Quanterix (NASDAQ:QTRX) Shares Gap Up on Insider Buying Activity

Quanterix Co. (NASDAQ:QTRX) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $13.20, but opened at $13.74. Quanterix shares last traded at $13.94, with a volume of 63,052 shares trading hands.

Specifically, Director David R. Walt acquired 47,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the purchase, the director now owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank lowered their price target 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. TD Cowen dropped their target price on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.80.

Quanterix Stock Up 9.5 %

The company has a market cap of $592.80 million, a P/E ratio of -16.14 and a beta of 1.36. The firm has a fifty day moving average price of $13.43 and a 200 day moving average price of $16.54.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QTRX. Comerica Bank raised its position in shares of Quanterix by 44,205.6% during the first quarter. Comerica Bank now owns 7,975 shares of the company’s stock worth $188,000 after acquiring an additional 7,957 shares during the last quarter. Quest Partners LLC acquired a new position in Quanterix during the 4th quarter valued at about $240,000. Canada Pension Plan Investment Board bought a new position in shares of Quanterix in the 2nd quarter valued at about $140,000. Janney Capital Management LLC acquired a new stake in shares of Quanterix during the 1st quarter worth approximately $259,000. Finally, Hsbc Holdings PLC raised its stake in shares of Quanterix by 34.7% during the second quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after buying an additional 3,279 shares during the last quarter. Institutional investors own 86.48% of the company’s stock.

Quanterix Company 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.