Quanterix (NASDAQ:QTRX) Price Target Lowered to $18.00 at Scotiabank

Quanterix (NASDAQ:QTRX) had its price objective cut by Scotiabank from $28.00 to $18.00 in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a sector outperform rating on the stock.

Separately, Canaccord Genuity Group lowered their target price on shares of Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th.

Quanterix Stock Performance

Shares of QTRX opened at $6.77 on Tuesday. The stock has a 50-day simple moving average of $8.04 and a 200-day simple moving average of $10.69. Quanterix has a 1 year low of $6.30 and a 1 year high of $23.94. The stock has a market capitalization of $262.51 million, a PE ratio of -6.39 and a beta of 1.33.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, March 17th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The business had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. Analysts predict that Quanterix will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Graypoint LLC acquired a new position in shares of Quanterix during the fourth quarter worth about $691,000. Algert Global LLC lifted its position in Quanterix by 75.9% during the 3rd quarter. Algert Global LLC now owns 137,833 shares of the company’s stock worth $1,786,000 after acquiring an additional 59,496 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Quanterix by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 858,667 shares of the company’s stock worth $11,131,000 after acquiring an additional 18,231 shares during the period. Barclays PLC boosted its holdings in Quanterix by 42.3% in the 3rd quarter. Barclays PLC now owns 146,248 shares of the company’s stock worth $1,896,000 after acquiring an additional 43,447 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Quanterix by 28.1% in the third quarter. JPMorgan Chase & Co. now owns 217,957 shares of the company’s stock valued at $2,825,000 after acquiring an additional 47,873 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Company Profile

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.