Picton Mahoney Asset Management Purchases 78,984 Shares of Quanterix Co. (NASDAQ:QTRX)

Picton Mahoney Asset Management boosted its position in Quanterix Co. (NASDAQ:QTRX) by 91.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 165,076 shares of the company’s stock after buying an additional 78,984 shares during the period. Picton Mahoney Asset Management’s holdings in Quanterix were worth $2,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its position in shares of Quanterix by 22.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after acquiring an additional 326,876 shares during the period. Superstring Capital Management LP acquired a new position in shares of Quanterix during the 4th quarter worth approximately $1,962,000. Williams Jones Wealth Management LLC. bought a new position in shares of Quanterix during the first quarter worth approximately $1,327,000. Easterly Investment Partners LLC raised its position in shares of Quanterix by 551.1% in the first quarter. Easterly Investment Partners LLC now owns 78,734 shares of the company’s stock valued at $1,855,000 after buying an additional 66,642 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Quanterix by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after buying an additional 131,195 shares during the period. 86.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on QTRX. TD Cowen lowered their price objective on Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Scotiabank decreased their price target on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. Finally, The Goldman Sachs Group dropped their price target on Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Quanterix has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

Quanterix Price Performance

QTRX stock traded down $0.21 during trading on Friday, reaching $13.03. 288,103 shares of the company were exchanged, compared to its average volume of 488,182. Quanterix Co. has a twelve month low of $10.50 and a twelve month high of $29.70. The company has a 50-day moving average of $13.43 and a two-hundred day moving average of $17.71.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $34.38 million during the quarter, compared to the consensus estimate of $34.19 million. Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. During the same quarter in the previous year, the company posted ($0.16) earnings per share. Research analysts anticipate that Quanterix Co. will post -0.88 EPS for the current fiscal year.

Quanterix Company Profile

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.