Quanterix (NASDAQ:QTRX) Price Target Lowered to $15.00 at TD Cowen

Quanterix (NASDAQ:QTRX) had its price objective cut by TD Cowen from $17.00 to $15.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently weighed in on QTRX. Canaccord Genuity Group dropped their price objective on Quanterix from $32.00 to $25.00 and set a buy rating for the company in a report on Monday, April 29th. The Goldman Sachs Group cut their price objective on shares of Quanterix from $35.00 to $24.00 and set a buy rating on the stock in a report on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $25.60.

Quanterix Price Performance

Shares of QTRX traded down $1.90 during trading hours on Friday, hitting $10.92. The stock had a trading volume of 1,575,660 shares, compared to its average volume of 385,588. The stock has a market capitalization of $417.91 million, a price-to-earnings ratio of -11.37 and a beta of 1.39. The company’s fifty day moving average is $14.20 and its two-hundred day moving average is $18.85. Quanterix has a 52 week low of $10.50 and a 52 week high of $29.70.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QTRX. AJOVista LLC acquired a new position in shares of Quanterix during the 4th quarter worth about $81,000. Picton Mahoney Asset Management acquired a new position in Quanterix during the fourth quarter valued at approximately $139,000. Comerica Bank grew its stake in Quanterix by 44,205.6% in the first quarter. Comerica Bank now owns 7,975 shares of the company’s stock valued at $188,000 after purchasing an additional 7,957 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Quanterix by 11.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,261 shares of the company’s stock worth $188,000 after purchasing an additional 1,417 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Quanterix during the 2nd quarter worth approximately $210,000. Institutional investors own 86.48% of the company’s stock.

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.