Cubist Systematic Strategies LLC Raises Stock Position in Quanterix Corp (NASDAQ:QTRX)

Cubist Systematic Strategies LLC boosted its position in shares of Quanterix Corp (NASDAQ:QTRX) by 607.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,617 shares of the company’s stock after acquiring an additional 8,257 shares during the period. Cubist Systematic Strategies LLC’s holdings in Quanterix were worth $325,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of QTRX. Twin Focus Capital Partners LLC purchased a new position in Quanterix during the first quarter valued at approximately $258,000. Gilder Gagnon Howe & Co. LLC grew its stake in Quanterix by 0.5% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 986,587 shares of the company’s stock worth $25,484,000 after buying an additional 4,430 shares in the last quarter. Carnegie Capital Asset Management LLC purchased a new position in Quanterix in the 2nd quarter worth approximately $845,000. Steward Partners Investment Advisory LLC purchased a new position in Quanterix in the 2nd quarter worth approximately $76,000. Finally, TD Asset Management Inc. grew its stake in Quanterix by 1.2% in the 2nd quarter. TD Asset Management Inc. now owns 49,700 shares of the company’s stock worth $1,679,000 after buying an additional 600 shares in the last quarter. 60.94% of the stock is owned by institutional investors.

In other news, CEO E Kevin Hrusovsky sold 3,336 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $21.78, for a total value of $72,658.08. Also, SVP David C. Duffy sold 1,667 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $29.49, for a total transaction of $49,159.83. The disclosure for this sale can be found here. In the last three months, insiders sold 105,306 shares of company stock valued at $1,641,050. Corporate insiders own 30.80% of the company’s stock.

QTRX has been the subject of a number of research reports. Zacks Investment Research raised shares of Quanterix from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday. ValuEngine cut shares of Quanterix from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BTIG Research set a $35.00 price target on shares of Quanterix and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $38.00 price target on shares of Quanterix in a research note on Wednesday, July 24th.

QTRX stock opened at $21.75 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.91. Quanterix Corp has a one year low of $16.00 and a one year high of $36.15. The stock has a market cap of $547.34 million, a PE ratio of -15.21 and a beta of 1.28. The firm has a 50 day simple moving average of $24.09 and a two-hundred day simple moving average of $26.43.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). Quanterix had a negative return on equity of 74.78% and a negative net margin of 78.07%. The company had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $11.40 million. On average, research analysts expect that Quanterix Corp will post -1.49 EPS for the current fiscal year.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

Further Reading: Diversification

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Institutional Ownership by Quarter for Quanterix (NASDAQ:QTRX)

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