Gilder Gagnon Howe & Co. LLC reduced its stake in Quanterix Corp (NASDAQ:QTRX) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,732,633 shares of the company’s stock after selling 398,742 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 9.61% of Quanterix worth $74,847,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Frontier Capital Management Co. LLC lifted its position in Quanterix by 58.7% during the second quarter. Frontier Capital Management Co. LLC now owns 837,220 shares of the company’s stock worth $22,931,000 after buying an additional 309,584 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Quanterix by 83.0% in the 1st quarter. Nuveen Asset Management LLC now owns 202,547 shares of the company’s stock worth $3,721,000 after purchasing an additional 91,884 shares during the period. Granahan Investment Management Inc. MA raised its holdings in shares of Quanterix by 86.4% in the 1st quarter. Granahan Investment Management Inc. MA now owns 183,972 shares of the company’s stock worth $3,380,000 after purchasing an additional 85,290 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of Quanterix in the 2nd quarter worth about $2,238,000. Finally, Invesco Ltd. raised its holdings in shares of Quanterix by 30.4% in the 1st quarter. Invesco Ltd. now owns 257,613 shares of the company’s stock worth $4,732,000 after purchasing an additional 60,077 shares during the period. Institutional investors and hedge funds own 71.50% of the company’s stock.
NASDAQ QTRX traded down $1.71 during mid-day trading on Friday, reaching $31.00. 242,868 shares of the company’s stock traded hands, compared to its average volume of 315,391. The company has a market cap of $881.64 million, a price-to-earnings ratio of -19.75 and a beta of 1.78. Quanterix Corp has a 1-year low of $10.90 and a 1-year high of $37.77. The company has a current ratio of 6.05, a quick ratio of 5.32 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $33.06 and a 200-day simple moving average of $26.28.
A number of equities analysts have recently commented on QTRX shares. SVB Leerink raised their price objective on Quanterix from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. BidaskClub upgraded Quanterix from a “strong sell” rating to a “sell” rating in a research note on Friday, July 31st. Zacks Investment Research lowered Quanterix from a “buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Canaccord Genuity reiterated a “buy” rating and issued a $36.00 target price on shares of Quanterix in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on Quanterix from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Quanterix currently has a consensus rating of “Buy” and an average price target of $35.75.
In other Quanterix news, CEO E Kevin Hrusovsky sold 5,500 shares of Quanterix stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $26.88, for a total transaction of $147,840.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David C. Duffy sold 1,667 shares of Quanterix stock in a transaction on Monday, July 13th. The shares were sold at an average price of $27.39, for a total value of $45,659.13. The disclosure for this sale can be found here. In the last three months, insiders sold 55,028 shares of company stock worth $1,663,518. Company insiders own 25.40% of the company’s stock.
Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.
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