Quanterix Co. (NASDAQ:QTRX) Short Interest Update

Quanterix Co. (NASDAQ:QTRX) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 2,040,000 shares, a drop of 32.0% from the February 28th total of 3,000,000 shares. Based on an average daily volume of 780,100 shares, the days-to-cover ratio is currently 2.6 days. Approximately 6.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in Quanterix by 111.3% during the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock valued at $34,079,000 after acquiring an additional 1,688,680 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Quanterix during the fourth quarter worth $11,290,000. Portolan Capital Management LLC boosted its stake in shares of Quanterix by 31.4% during the third quarter. Portolan Capital Management LLC now owns 2,520,686 shares of the company’s stock valued at $32,668,000 after purchasing an additional 602,656 shares during the period. Pier Capital LLC grew its holdings in shares of Quanterix by 32.8% in the fourth quarter. Pier Capital LLC now owns 679,680 shares of the company’s stock worth $7,225,000 after purchasing an additional 167,882 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. increased its stake in Quanterix by 39.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company’s stock worth $5,012,000 after buying an additional 134,470 shares during the period. Institutional investors own 86.48% of the company’s stock.

Analysts Set New Price Targets

QTRX has been the subject of several recent analyst reports. Scotiabank restated an “outperform” rating on shares of Quanterix in a research note on Tuesday. Canaccord Genuity Group lowered their target price on shares of Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

Quanterix Stock Down 3.1 %

Quanterix stock traded down $0.21 during midday trading on Friday, reaching $6.56. 515,291 shares of the stock traded hands, compared to its average volume of 514,785. The stock’s fifty day moving average is $7.99 and its 200-day moving average is $10.64. Quanterix has a 12 month low of $6.30 and a 12 month high of $23.86. The stock has a market cap of $254.37 million, a P/E ratio of -6.19 and a beta of 1.33.

Quanterix (NASDAQ:QTRX) last released 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). The firm had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.93 million. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. On average, equities analysts predict that Quanterix will post -0.98 EPS for the current fiscal year.

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.