Quanterix (NASDAQ:QTRX) Given New $16.00 Price Target at TD Cowen

Quanterix (NASDAQ:QTRX) had its price objective lifted by TD Cowen from $13.50 to $16.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Separately, Scotiabank decreased their target price 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 4.0 %

Shares of NASDAQ QTRX opened at $11.44 on Wednesday. Quanterix has a 52 week low of $10.50 and a 52 week high of $29.70. The firm’s fifty day moving average is $12.95 and its 200 day moving average is $13.97. The company has a market cap of $439.07 million, a price-to-earnings ratio of -10.90 and a beta of 1.36.

Insider Buying and Selling

In related news, Director David R. Walt purchased 47,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired 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 approximately $19,766,775.18. The trade was a 3.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.90% of the stock is owned by insiders.

Institutional Trading of Quanterix

Several large investors have recently added to or reduced their stakes in the stock. Portolan Capital Management LLC boosted its holdings in Quanterix by 31.4% in the third quarter. Portolan Capital Management LLC now owns 2,520,686 shares of the company’s stock valued at $32,668,000 after acquiring an additional 602,656 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Quanterix by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,069,423 shares of the company’s stock valued at $48,756,000 after buying an additional 14,390 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Quanterix by 22.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after buying an additional 326,876 shares in the last quarter. Easterly Investment Partners LLC boosted its holdings in shares of Quanterix by 26.5% during the 3rd quarter. Easterly Investment Partners LLC now owns 876,133 shares of the company’s stock valued at $11,355,000 after buying an additional 183,387 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Quanterix by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 858,667 shares of the company’s stock valued at $11,131,000 after buying an additional 18,231 shares in the last quarter. Institutional investors own 86.48% of the company’s stock.

Quanterix Company 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.