TD Cowen Forecasts Strong Price Appreciation for Quanterix (NASDAQ:QTRX) Stock

Quanterix (NASDAQ:QTRX) had its price objective hoisted by investment analysts at TD Cowen from $13.50 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 34.23% from the stock’s previous close.

Separately, Scotiabank decreased 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.

Quanterix Price Performance

Shares of NASDAQ QTRX opened at $11.92 on Wednesday. The business has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $14.01. Quanterix has a fifty-two week low of $10.50 and a fifty-two week high of $29.70.

Insider Buying and Selling

In related news, Director David R. Walt bought 47,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the purchase, the director now directly owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. This represents a 3.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of Quanterix

A number of hedge funds have recently added to or reduced their stakes in the company. Easterly Investment Partners LLC lifted its position in shares of Quanterix by 779.9% during 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 in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Quanterix by 22.9% during the first 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 in the last quarter. Farallon Capital Management LLC lifted its stake in Quanterix by 156.0% in the 1st quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock valued at $11,097,000 after buying an additional 287,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Quanterix during the 2nd quarter worth $3,389,000. Finally, Envestnet Asset Management Inc. lifted its stake in Quanterix by 2,261.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock worth $2,771,000 after purchasing an additional 200,851 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

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.