Canaccord Genuity Group Cuts Quanterix (NASDAQ:QTRX) Price Target to $15.00

Quanterix (NASDAQ:QTRX) had its price target lowered by Canaccord Genuity Group from $20.00 to $15.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Quanterix Stock Up 0.6 %

QTRX stock opened at $7.24 on Tuesday. The company’s 50-day moving average price is $8.23 and its two-hundred day moving average price is $10.88. The firm has a market cap of $278.91 million, a P/E ratio of -6.83 and a beta of 1.34. Quanterix has a 12 month low of $6.30 and a 12 month high of $26.18.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. Equities analysts predict that Quanterix will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

A number of institutional investors have recently added to or reduced their stakes in QTRX. Bank of New York Mellon Corp increased its stake in Quanterix by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company’s stock worth $1,150,000 after acquiring an additional 1,963 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Quanterix by 219.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock worth $61,000 after buying an additional 3,915 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Quanterix by 25.8% in the 4th quarter. Hsbc Holdings PLC now owns 19,371 shares of the company’s stock valued at $205,000 after purchasing an additional 3,974 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Quanterix by 64.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company’s stock valued at $108,000 after purchasing an additional 4,000 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Quanterix by 21.9% in the 4th quarter. MetLife Investment Management LLC now owns 23,983 shares of the company’s stock valued at $255,000 after purchasing an additional 4,303 shares during the period. Hedge funds and other 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.