Essex Investment Management Co. LLC increased its position in Quanterix Corp (NASDAQ:QTRX) by 114.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,837 shares of the company’s stock after acquiring an additional 69,385 shares during the period. Essex Investment Management Co. LLC owned approximately 0.52% of Quanterix worth $2,851,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. TD Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 600 shares during the period. Alambic Investment Management L.P. increased its holdings in shares of Quanterix by 12.7% in the 2nd quarter. Alambic Investment Management L.P. now owns 15,404 shares of the company’s stock worth $521,000 after acquiring an additional 1,739 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Quanterix in the 2nd quarter worth about $76,000. Northern Trust Corp increased its holdings in shares of Quanterix by 2.6% in the 2nd quarter. Northern Trust Corp now owns 100,434 shares of the company’s stock worth $3,394,000 after acquiring an additional 2,544 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Quanterix by 116.4% in the 2nd quarter. Royal Bank of Canada now owns 6,285 shares of the company’s stock worth $213,000 after acquiring an additional 3,380 shares during the period. 60.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Marijn E. Dekkers sold 89,759 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $13.63, for a total transaction of $1,223,415.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman E Kevin Hrusovsky sold 3,167 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $31.62, for a total transaction of $100,140.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,306 shares of company stock worth $1,625,030. 30.80% of the stock is owned by corporate insiders.
Quanterix (NASDAQ:QTRX) last released its earnings results on Tuesday, August 6th. The company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.03). The company had revenue of $13.54 million for the quarter, compared to analyst estimates of $11.40 million. Quanterix had a negative net margin of 78.07% and a negative return on equity of 74.78%. Research analysts expect that Quanterix Corp will post -1.49 earnings per share for the current fiscal year.
A number of research firms recently weighed in on QTRX. Zacks Investment Research raised shares of Quanterix from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, October 9th. Canaccord Genuity reissued a “buy” rating and set a $38.00 target price on shares of Quanterix in a research note on Wednesday, July 24th. ValuEngine cut shares of Quanterix from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, BTIG Research set a $35.00 target price on shares of Quanterix and gave the company a “buy” rating in a research note on Wednesday, August 7th.
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.
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