nVerses Capital LLC Makes New Investment in Quanterix Co. (NASDAQ:QTRX)

nVerses Capital LLC purchased a new stake in shares of Quanterix Co. (NASDAQ:QTRX) during the third quarter, Holdings Channel reports. The fund purchased 4,600 shares of the company’s stock, valued at approximately $60,000.

Other hedge funds have also recently made changes to their positions in the company. 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 buying an additional 7,957 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Quanterix during the second quarter worth $140,000. SG Americas Securities LLC bought a new stake in shares of Quanterix in the third quarter worth $139,000. Janney Capital Management LLC acquired a new stake in Quanterix in the first quarter valued at $259,000. Finally, Hsbc Holdings PLC raised its position in Quanterix by 34.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after purchasing an additional 3,279 shares during the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David R. Walt acquired 47,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the acquisition, the director now owns 1,487,342 shares of the company’s stock, valued at approximately $19,766,775.18. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Quanterix Price Performance

Shares of Quanterix stock opened at $12.34 on Tuesday. The stock’s 50-day moving average is $12.65 and its 200 day moving average is $14.47. Quanterix Co. has a one year low of $10.50 and a one year high of $29.70. The firm has a market cap of $472.25 million, a price-to-earnings ratio of -12.85 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 analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $34.38 million for the quarter, compared to the consensus estimate of $34.19 million. Quanterix had a negative return on equity of 11.52% and a negative net margin of 30.71%. During the same quarter in the previous year, the company posted ($0.16) earnings per share. On average, sell-side analysts expect that Quanterix Co. will post -0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.