American International Group Inc. Grows Position in Quanterix Co. (NASDAQ:QTRX)

American International Group Inc. increased its position in shares of Quanterix Co. (NASDAQ:QTRX) by 14.7% in the first quarter, Holdings Channel.com reports. The firm owned 14,020 shares of the company’s stock after purchasing an additional 1,794 shares during the quarter. American International Group Inc.’s holdings in Quanterix were worth $820,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Marathon Capital Management boosted its stake in shares of Quanterix by 18.9% during the 4th quarter. Marathon Capital Management now owns 92,645 shares of the company’s stock worth $4,307,000 after purchasing an additional 14,695 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Quanterix during the 4th quarter worth about $738,000. Victory Capital Management Inc. boosted its position in Quanterix by 1,135.6% in the 1st quarter. Victory Capital Management Inc. now owns 703,045 shares of the company’s stock valued at $41,107,000 after buying an additional 646,145 shares during the period. Squarepoint Ops LLC purchased a new stake in Quanterix in the 4th quarter valued at about $427,000. Finally, Foundry Partners LLC boosted its position in Quanterix by 16.1% in the 4th quarter. Foundry Partners LLC now owns 24,376 shares of the company’s stock valued at $1,133,000 after buying an additional 3,376 shares during the period. 77.50% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:QTRX opened at $67.17 on Friday. Quanterix Co. has a one year low of $24.22 and a one year high of $92.57. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -70.70 and a beta of 1.53. The firm has a 50-day simple moving average of $56.36.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Wednesday, May 5th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.03. Quanterix had a negative net margin of 30.37% and a negative return on equity of 11.92%. As a group, analysts expect that Quanterix Co. will post -1.22 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on QTRX shares. The Goldman Sachs Group started coverage on shares of Quanterix in a research report on Friday, June 4th. They issued a “sell” rating and a $53.00 price objective for the company. Canaccord Genuity boosted their price objective on shares of Quanterix from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, March 3rd. SVB Leerink reissued a “buy” rating on shares of Quanterix in a research report on Thursday. Finally, Zacks Investment Research cut shares of Quanterix from a “hold” rating to a “sell” rating in a research report on Wednesday, May 19th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. Quanterix presently has a consensus rating of “Hold” and a consensus target price of $63.25.

In related news, CEO E Kevin Hrusovsky sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $61.32, for a total transaction of $306,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David C. Duffy sold 1,667 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $58.36, for a total transaction of $97,286.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,852 shares of company stock valued at $3,225,455. 15.40% of the stock is currently owned by company insiders.

Quanterix Profile

Quanterix Corporation, a life sciences company, develops and markets 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 sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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Institutional Ownership by Quarter for Quanterix (NASDAQ:QTRX)

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