Quanterix Corp (QTRX) Director John M. Connolly Buys 2,700 Shares of Stock

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Quanterix Corp (NASDAQ:QTRX) Director John M. Connolly bought 2,700 shares of Quanterix stock in a transaction on Tuesday, December 4th. The shares were purchased at an average cost of $18.38 per share, for a total transaction of $49,626.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QTRX stock traded up $0.31 during trading on Friday, reaching $19.50. 106,483 shares of the stock were exchanged, compared to its average volume of 69,304. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 3.76. Quanterix Corp has a 1 year low of $13.00 and a 1 year high of $24.81. The company has a market capitalization of $425.98 million and a PE ratio of -2.35.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Wednesday, November 7th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). Quanterix had a negative return on equity of 52.35% and a negative net margin of 88.72%. The firm had revenue of $10.59 million for the quarter, compared to analysts’ expectations of $9.57 million. Sell-side analysts forecast that Quanterix Corp will post -1.21 EPS for the current year.

A number of equities analysts have commented on QTRX shares. Zacks Investment Research downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Canaccord Genuity started coverage on shares of Quanterix in a research note on Wednesday, October 10th. They set a “buy” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Quanterix presently has an average rating of “Buy” and a consensus target price of $26.67.

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in Quanterix during the second quarter worth about $117,000. Teachers Advisors LLC purchased a new position in Quanterix during the third quarter worth about $219,000. Granite Investment Partners LLC purchased a new position in Quanterix during the third quarter worth about $346,000. First Republic Investment Management Inc. purchased a new position in Quanterix during the second quarter worth about $235,000. Finally, PNC Financial Services Group Inc. purchased a new position in Quanterix during the third quarter worth about $428,000. 49.62% of the stock is currently owned by institutional investors.

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Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.

Further Reading: What is the Rule of 72?

Insider Buying and Selling by Quarter for Quanterix (NASDAQ:QTRX)

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