Quanterix (NASDAQ:QTRX) Stock Price Down 5% – What’s Next?

Quanterix Co. (NASDAQ:QTRX) shares dropped 5% on Wednesday . The stock traded as low as $14.41 and last traded at $14.41. Approximately 20,247 shares traded hands during trading, a decline of 95% from the average daily volume of 396,062 shares. The stock had previously closed at $15.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Scotiabank cut their target price on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. TD Cowen upped their price objective on shares of Quanterix from $13.50 to $16.00 and gave the company a “hold” rating in a research note on Wednesday.

Quanterix Trading Down 15.3 %

The firm has a fifty day moving average price of $12.97 and a 200 day moving average price of $14.03. The firm has a market capitalization of $493.17 million, a price-to-earnings ratio of -12.00 and a beta of 1.36.

Insider Activity at Quanterix

In related news, Director David R. Walt acquired 47,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $13.29 per share, with a total value of $624,630.00. Following the acquisition, the director now owns 1,487,342 shares in the company, valued at $19,766,775.18. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Quanterix

A number of large investors have recently made changes to their positions in QTRX. Easterly Investment Partners LLC raised its holdings in Quanterix by 779.9% in the 2nd quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock valued at $9,151,000 after buying an additional 614,012 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Quanterix by 22.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after purchasing an additional 326,876 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in Quanterix by 156.0% during the 1st quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock worth $11,097,000 after buying an additional 287,000 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Quanterix during the second quarter worth about $3,389,000. Finally, Envestnet Asset Management Inc. increased its position in Quanterix by 2,261.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock valued at $2,771,000 after purchasing an additional 200,851 shares during the period. Institutional investors own 86.48% of the company’s stock.

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.