Insider Buying: Quanterix Co. (NASDAQ:QTRX) Director Acquires 78,131 Shares of Stock

Quanterix Co. (NASDAQ:QTRX) Director David R. Walt bought 78,131 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were bought at an average cost of $5.34 per share, with a total value of $417,219.54. Following the purchase, the director now directly owns 1,706,933 shares in the company, valued at approximately $9,115,022.22. This trade represents a 4.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Quanterix Price Performance

Quanterix stock opened at $6.58 on Wednesday. Quanterix Co. has a one year low of $4.05 and a one year high of $19.18. The company’s fifty day moving average price is $5.29 and its two-hundred day moving average price is $7.86. The company has a market capitalization of $255.49 million, a price-to-earnings ratio of -6.21 and a beta of 1.05.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.16. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The business had revenue of $30.33 million for the quarter, compared to analyst estimates of $28.27 million. As a group, sell-side analysts anticipate that Quanterix Co. will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Quanterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTRX. Resona Asset Management Co. Ltd. acquired a new stake in shares of Quanterix in the fourth quarter worth $55,000. Tower Research Capital LLC TRC raised 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 acquiring an additional 3,915 shares during the period. KLP Kapitalforvaltning AS bought a new position in Quanterix in the 4th quarter worth $66,000. State of Wyoming acquired a new position in Quanterix during the 1st quarter worth $47,000. Finally, ProShare Advisors LLC bought a new stake in Quanterix during the fourth quarter valued at about $108,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen lowered Quanterix from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Leerink Partners reaffirmed a “market perform” rating and issued a $8.00 target price (down from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Canaccord Genuity Group reduced their price target on Quanterix from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Leerink Partnrs cut Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Scotiabank restated an “outperform” rating on shares of Quanterix in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.60.

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.