Zacks Investment Research lowered shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Quanterix Corporation is a developer of tools in high definition diagnostics. The Company focuses on research and diagnostics for brain injuries, heart disease, cancer and other diseases with its technology. It offers Simoa consumables, which include Simoa Discs, Simoa Cuvettes, Simoa Sealing Oil, Simoa Buffers and Disposable Tips. The company services include Simoa Accelerator Lab and custom assay development services. Quanterix Corporation is based in LEXINGTON, United States. “

Separately, Canaccord Genuity lowered their target price on Cronos Group from C$17.00 to C$16.00 in a research note on Friday, May 10th.

QTRX stock opened at $29.81 on Wednesday. The company has a 50-day moving average of $30.31. Quanterix has a 52 week low of $13.00 and a 52 week high of $36.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 2.64.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Friday, May 10th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.02). The company had revenue of $12.34 million during the quarter, compared to analyst estimates of $11.33 million. Quanterix had a negative net margin of 79.48% and a negative return on equity of 76.62%. On average, sell-side analysts predict that Quanterix will post -1.56 earnings per share for the current fiscal year.

In other Quanterix news, SVP David C. Duffy sold 1,277 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $20.78, for a total transaction of $26,536.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman E Kevin Hrusovsky sold 2,142 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.59, for a total value of $48,387.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,942 shares of company stock valued at $354,518. Insiders own 30.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers acquired a new position in shares of Quanterix in the 4th quarter valued at about $186,000. New York State Common Retirement Fund boosted its stake in Quanterix by 116.7% during the 4th quarter. New York State Common Retirement Fund now owns 6,500 shares of the company’s stock valued at $119,000 after purchasing an additional 3,500 shares during the period. BlackRock Inc. boosted its stake in Quanterix by 61.2% during the 4th quarter. BlackRock Inc. now owns 660,292 shares of the company’s stock valued at $12,089,000 after purchasing an additional 250,571 shares during the period. Bank of New York Mellon Corp boosted its stake in Quanterix by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 33,035 shares of the company’s stock valued at $605,000 after purchasing an additional 4,180 shares during the period. Finally, Granite Investment Partners LLC boosted its stake in Quanterix by 51.0% during the 4th quarter. Granite Investment Partners LLC now owns 24,426 shares of the company’s stock valued at $448,000 after purchasing an additional 8,248 shares during the period. 45.94% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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