Quanterix (NASDAQ:QTRX) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Quanterix (NASDAQ:QTRX) from a sell rating to a hold rating in a research note published on Saturday morning.

QTRX has been the subject of several other research reports. TD Cowen decreased their price objective on shares of Quanterix from $7.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday. Canaccord Genuity Group cut their target price on Quanterix from $8.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quanterix in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Quanterix presently has an average rating of “Reduce” and an average price target of $4.00.

Quanterix Price Performance

QTRX opened at $2.83 on Friday. Quanterix has a 1 year low of $2.56 and a 1 year high of $8.77. The company has a market capitalization of $133.32 million, a price-to-earnings ratio of -1.20 and a beta of 1.15. The firm’s fifty day moving average price is $4.11 and its two-hundred day moving average price is $5.60.

Quanterix (NASDAQ:QTRX) last announced its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.12. Quanterix had a negative net margin of 71.86% and a negative return on equity of 23.92%. The company had revenue of $35.90 million during the quarter, compared to the consensus estimate of $36.84 million. As a group, equities analysts anticipate that Quanterix will post -0.97 EPS for the current year.

Institutional Trading of Quanterix

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in shares of Quanterix during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Quanterix in the 4th quarter valued at about $27,000. Quarry LP raised its stake in Quanterix by 277,300.0% in the 3rd quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after acquiring an additional 5,546 shares during the period. AXQ Capital LP purchased a new stake in Quanterix during the fourth quarter valued at about $70,000. Finally, R Squared Ltd purchased a new stake in Quanterix during the third quarter valued at about $64,000. 86.48% of the stock is currently owned by institutional investors.

About Quanterix

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.