21,461 Shares in Quanterix Co. (NASDAQ:QTRX) Purchased by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C purchased a new stake in Quanterix Co. (NASDAQ:QTRX) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 21,461 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Quanterix during the 2nd quarter worth $140,000. Hsbc Holdings PLC grew its stake in Quanterix by 34.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock valued at $164,000 after acquiring an additional 3,279 shares in the last quarter. Comerica Bank raised its holdings in Quanterix by 44,205.6% in the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock valued at $188,000 after acquiring an additional 7,957 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Quanterix by 11.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,261 shares of the company’s stock worth $188,000 after purchasing an additional 1,417 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Quanterix during the 2nd quarter worth approximately $210,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director David R. Walt bought 47,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.90% of the company’s stock.

Quanterix Stock Performance

Shares of Quanterix stock opened at $12.73 on Friday. Quanterix Co. has a fifty-two week low of $10.50 and a fifty-two week high of $29.70. The firm has a market capitalization of $488.58 million, a price-to-earnings ratio of -13.26 and a beta of 1.36. The stock has a 50 day moving average of $13.23 and a 200 day moving average of $15.96.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data 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 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 analysts’ expectations of $34.19 million. During the same quarter last year, the firm posted ($0.16) earnings per share. Analysts forecast that Quanterix Co. will post -0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Quanterix

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.