Quanterix (NASDAQ:QTRX) Stock Price Down 5% – Should You Sell?

Quanterix Co. (NASDAQ:QTRX) shares were down 5% on Wednesday . The company traded as low as $14.41 and last traded at $14.41. Approximately 20,247 shares changed hands during trading, a decline of 95% from the average daily volume of 396,062 shares. The stock had previously closed at $15.17.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on QTRX shares. TD Cowen lifted their target price on shares of Quanterix from $13.50 to $16.00 and gave the company a “hold” rating in a research note on Wednesday. Scotiabank decreased their price target on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th.

Quanterix Stock Down 3.9 %

The business’s fifty day moving average price is $12.97 and its two-hundred day moving average price is $14.01.

Insider Transactions at Quanterix

In other Quanterix news, Director David R. Walt bought 47,000 shares of Quanterix stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the acquisition, the director now directly owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. This represents a 3.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Quanterix

Several hedge funds have recently added to or reduced their stakes in QTRX. Easterly Investment Partners LLC grew its holdings in 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 purchasing an additional 614,012 shares during the last quarter. Farallon Capital Management LLC boosted its position 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 during the period. Assenagon Asset Management S.A. purchased a new stake in Quanterix in the 2nd quarter valued at about $3,389,000. Envestnet Asset Management Inc. boosted its position in Quanterix by 2,261.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock valued at $2,771,000 after buying an additional 200,851 shares during the period. Finally, Pier Capital LLC boosted its position in Quanterix by 48.9% in the 2nd quarter. Pier Capital LLC now owns 414,542 shares of the company’s stock valued at $5,476,000 after buying an additional 136,051 shares during the period. 86.48% of the stock is currently owned by 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.