Quanterix (NASDAQ:QTRX) Shares Down 5% – Here’s Why

13 Nov 2024, 15:08 by Scott Moore · The Cerbat Gem

Quanterix Co. (NASDAQ:QTRX – Get Free Report)’s share price dropped 5% during trading on Wednesday . The stock traded as low as $14.41 and last traded at $14.41. Approximately 20,247 shares changed hands during mid-day 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

Several research analysts recently issued reports on QTRX shares. Scotiabank cut their target price on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. TD Cowen upped their target price on shares of Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday.

Read Our Latest Report on QTRX

Quanterix Stock Down 15.3 %

The stock has a 50-day moving average of $12.97 and a 200 day moving average of $14.03. The company has a market capitalization of $493.17 million, a PE ratio of -12.00 and a beta of 1.36.

Insider Buying and Selling at Quanterix

In related news, Director David R. Walt purchased 47,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $13.29 per share, for a total transaction of $624,630.00. Following the purchase, the director now directly owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Quanterix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Quanterix by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,916 shares of the company’s stock worth $941,000 after purchasing an additional 1,186 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Quanterix by 11.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,261 shares of the company’s stock worth $188,000 after purchasing an additional 1,417 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Quanterix by 34.7% in the second quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock valued at $164,000 after acquiring an additional 3,279 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in 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 worth $338,000 after buying an additional 4,250 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Quanterix by 0.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 563,247 shares of the company’s stock valued at $7,300,000 after buying an additional 4,406 shares during the period. Institutional investors own 86.48% of the company’s stock.

Quanterix Company Profile

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