Quanterix (NASDAQ:QTRX) Shares Gap Up Following Insider Buying Activity

Quanterix Co. (NASDAQ:QTRX)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $13.20, but opened at $13.74. Quanterix shares last traded at $13.94, with a volume of 63,052 shares changing hands.

Specifically, Director David R. Walt acquired 47,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the purchase, the director now directly owns 1,487,342 shares in the company, valued at $19,766,775.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

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

Quanterix Trading Up 5.2 %

The firm has a 50-day moving average of $13.38 and a 200 day moving average of $16.56. The stock has a market capitalization of $531.57 million, a price-to-earnings ratio of -14.52 and a beta of 1.36.

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

Hedge Funds Weigh In On Quanterix

Large investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC boosted its holdings 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 in the last quarter. Superstring Capital Management LP acquired a new position in shares of Quanterix during the 4th quarter valued at $1,962,000. Williams Jones Wealth Management LLC. acquired a new position in shares of Quanterix during the 1st quarter valued at $1,327,000. Easterly Investment Partners LLC raised its stake in shares of Quanterix by 551.1% in the 1st quarter. Easterly Investment Partners LLC now owns 78,734 shares of the company’s stock worth $1,855,000 after buying an additional 66,642 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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. Institutional investors and hedge funds own 86.48% of the company’s stock.

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.