Quanterix (NASDAQ:QTRX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Several other research analysts have also commented on QTRX. Weiss Ratings restated a “sell (e+)” rating on shares of Quanterix in a research report on Wednesday, November 4th. TD Cowen boosted their price objective on Quanterix from $3.00 to $3.50 and gave the company a “hold” rating in a report on Tuesday, October 13th. Finally, Canaccord Genuity Group decreased their target price on Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $3.25.

Quanterix Stock Performance

Shares of QTRX stock opened at $3.38 on Friday. The firm has a market cap of $159.84 million, a P/E ratio of -1.29 and a beta of 1.06. The firm’s 50 day moving average price is $3.01 and its 200-day moving average price is $3.78. Quanterix has a one year low of $2.15 and a one year high of $8.77.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, November 9th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The company had revenue of $34.97 million during the quarter, compared to analyst estimates of $33.85 million. Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%.

Institutional Trading of Quanterix

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Quanterix during the 2nd quarter worth $15,705,000. Levin Capital Strategies L.P. acquired a new stake in Quanterix in the 1st quarter valued at about $5,153,000. Empire Financial Management Company LLC raised its position in Quanterix by 19.1% in the 1st quarter. Empire Financial Management Company LLC now owns 736,068 shares of the company’s stock valued at $2,591,000 after purchasing an additional 118,238 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Quanterix by 13.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 443,118 shares of the company’s stock valued at $1,559,000 after purchasing an additional 53,652 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Quanterix in the 2nd quarter valued at about $1,772,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

About Quanterix

Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other molecules at very low concentrations, supporting research into disease biology, diagnosis, treatment response and drug development.

The company’s principal technology, Simoa, uses digital detection methods to improve the sensitivity of immunoassays.