Easterly Investment Partners LLC Grows Stock Position in Quanterix Co. (NASDAQ:QTRX)

Easterly Investment Partners LLC lifted its stake in Quanterix Co. (NASDAQ:QTRX) by 26.5% during the third quarter, Holdings Channel reports. The institutional investor owned 876,133 shares of the company’s stock after acquiring an additional 183,387 shares during the quarter. Easterly Investment Partners LLC’s holdings in Quanterix were worth $11,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Quanterix by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,069,423 shares of the company’s stock valued at $48,756,000 after buying an additional 14,390 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Quanterix by 22.9% during the 1st 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. Emerald Advisers LLC increased its stake in shares of Quanterix by 5.6% in the 3rd quarter. Emerald Advisers LLC now owns 719,217 shares of the company’s stock valued at $9,321,000 after purchasing an additional 38,230 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Quanterix by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 633,460 shares of the company’s stock worth $8,368,000 after purchasing an additional 10,105 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Quanterix by 0.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 563,247 shares of the company’s stock worth $7,300,000 after purchasing an additional 4,406 shares in the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David R. Walt bought 47,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $13.29 per share, with a total value of $624,630.00. Following the purchase, the director now directly owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Quanterix Price Performance

NASDAQ QTRX traded down $0.03 during trading hours on Friday, hitting $15.06. 46,357 shares of the company’s stock traded hands, compared to its average volume of 395,003. The company has a market capitalization of $578.00 million, a PE ratio of -14.37 and a beta of 1.36. Quanterix Co. has a 52-week low of $10.50 and a 52-week high of $29.70. The firm’s 50-day moving average is $12.82 and its 200-day moving average is $14.07.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Scotiabank cut their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. TD Cowen cut their target price on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 9th.

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.