Quanterix (NASDAQ:QTRX) Trading Down 3.6%

Shares of Quanterix Co. (NASDAQ:QTRX) traded down 3.6% on Wednesday . The company traded as low as $15.52 and last traded at $15.52. 45,270 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 343,587 shares. The stock had previously closed at $16.10.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.00.

Quanterix Price Performance

The stock has a 50-day moving average price of $23.16 and a two-hundred day moving average price of $23.46.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. The firm had revenue of $31.55 million for the quarter, compared to the consensus estimate of $27.92 million. On average, equities research analysts anticipate that Quanterix Co. will post -1.04 earnings per share for the current year.

Insider Activity at Quanterix

In related news, Director Laurie J. Olson sold 1,500 shares of Quanterix stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the sale, the director now directly owns 15,238 shares in the company, valued at $371,045.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. purchased a new position in Quanterix during the third quarter valued at $67,000. AJOVista LLC purchased a new position in Quanterix during the fourth quarter valued at $81,000. DekaBank Deutsche Girozentrale purchased a new position in Quanterix during the third quarter valued at $125,000. Picton Mahoney Asset Management purchased a new position in shares of Quanterix in the fourth quarter worth $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Quanterix by 56.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,683 shares of the company’s stock worth $209,000 after purchasing an additional 2,775 shares during the last quarter. Hedge funds and other 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.