Baillie Gifford & Co. Reduces Holdings in Quanterix Co. (NASDAQ:QTRX)

Baillie Gifford & Co. reduced its holdings in shares of Quanterix Co. (NASDAQ:QTRX) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,355 shares of the company’s stock after selling 8,218 shares during the period. Baillie Gifford & Co.’s holdings in Quanterix were worth $14,686,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Strs Ohio increased its stake in shares of Quanterix by 5.7% in the 4th quarter. Strs Ohio now owns 18,400 shares of the company’s stock worth $503,000 after purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Quanterix by 22.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock worth $303,000 after buying an additional 2,340 shares in the last quarter. Valmark Advisers Inc. raised its stake in shares of Quanterix by 3.5% in the fourth quarter. Valmark Advisers Inc. now owns 69,736 shares of the company’s stock worth $1,907,000 after buying an additional 2,363 shares during the period. Olympiad Research LP lifted its position in shares of Quanterix by 20.9% during the 4th quarter. Olympiad Research LP now owns 16,182 shares of the company’s stock valued at $442,000 after buying an additional 2,799 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Quanterix by 4.4% during the 3rd quarter. Rhumbline Advisers now owns 66,659 shares of the company’s stock valued at $1,809,000 after acquiring an additional 2,823 shares during the period. 86.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.60.

Quanterix Trading Down 2.3 %

QTRX traded down $0.29 on Friday, hitting $12.23. 208,009 shares of the company’s stock traded hands, compared to its average volume of 529,370. Quanterix Co. has a one year low of $11.83 and a one year high of $29.70. The firm has a market cap of $468.04 million, a price-to-earnings ratio of -12.74 and a beta of 1.39. The company’s 50 day simple moving average is $15.47 and its 200-day simple moving average is $20.87.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.07. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. The firm had revenue of $32.07 million for the quarter, compared to analysts’ expectations of $31.72 million. As a group, equities analysts anticipate that Quanterix Co. will post -0.86 EPS for the current fiscal year.

Quanterix 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.