Easterly Investment Partners LLC Grows Position in Quanterix Co. (NASDAQ:QTRX)

Easterly Investment Partners LLC raised its position in shares of Quanterix Co. (NASDAQ:QTRX) by 26.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876,133 shares of the company’s stock after buying an additional 183,387 shares during the quarter. Easterly Investment Partners LLC owned about 2.28% of Quanterix worth $11,355,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QTRX. Allspring Global Investments Holdings LLC lifted its stake in shares of Quanterix by 22.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock valued at $303,000 after purchasing an additional 2,340 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new stake in shares of Quanterix in the 1st quarter valued at approximately $1,327,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Quanterix by 42.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the company’s stock valued at $338,000 after purchasing an additional 4,250 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Quanterix by 22.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after purchasing an additional 326,876 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its stake in shares of Quanterix by 1,598.1% during the 1st quarter. Picton Mahoney Asset Management now owns 86,092 shares of the company’s stock worth $2,027,000 after acquiring an additional 81,022 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on QTRX. Scotiabank reduced their target price on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. TD Cowen reduced their price target on shares of Quanterix from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, August 9th.

Insider Buying and Selling at Quanterix

In related news, Director David R. Walt acquired 47,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the completion of the acquisition, the director now directly owns 1,487,342 shares in the company, valued at $19,766,775.18. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.

Quanterix Price Performance

Shares of QTRX stock traded down $0.03 during mid-day trading on Friday, hitting $15.06. The stock had a trading volume of 46,357 shares, compared to its average volume of 395,003. Quanterix Co. has a 12-month low of $10.50 and a 12-month high of $29.70. The firm’s 50-day moving average is $12.82 and its two-hundred day moving average is $14.07. The firm has a market capitalization of $578.00 million, a P/E ratio of -14.37 and a beta of 1.36.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $34.38 million for the quarter, compared to the consensus estimate of $34.19 million. Quanterix had a negative net margin of 30.71% and a negative return on equity of 11.52%. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Analysts expect that Quanterix Co. will post -0.88 EPS for the current 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.