Quanterix (NASDAQ:QTRX) Rating Lowered to “Sell” at Wall Street Zen

Quanterix (NASDAQ:QTRX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Quanterix in a research note on Wednesday. TD Cowen upped their price objective on shares of Quanterix from $3.00 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Finally, Canaccord Genuity Group lowered their price objective on shares of Quanterix from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Quanterix has a consensus rating of “Reduce” and an average target price of $3.25.

Quanterix Stock Performance

Shares of Quanterix stock opened at $2.89 on Friday. The stock has a 50 day moving average of $3.00 and a 200 day moving average of $3.80. The firm has a market capitalization of $136.67 million, a price-to-earnings ratio of -1.10 and a beta of 1.06. Quanterix has a fifty-two week low of $2.15 and a fifty-two week high of $8.77.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, August 10th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.63). Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%. The business had revenue of $32.91 million during the quarter, compared to analysts’ expectations of $37.48 million.

Institutional Investors Weigh In On Quanterix

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

Quanterix Company Profile

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.