Emerald Advisers LLC Trims Stake in Quanterix Co. (NASDAQ:QTRX)

Emerald Advisers LLC reduced its holdings in shares of Quanterix Co. (NASDAQ:QTRX) by 61.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,395 shares of the company’s stock after selling 440,822 shares during the period. Emerald Advisers LLC’s holdings in Quanterix were worth $2,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Quanterix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock valued at $23,569,000 after buying an additional 19,386 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in Quanterix by 258.7% during the fourth quarter. Fox Run Management L.L.C. now owns 43,784 shares of the company’s stock valued at $465,000 after buying an additional 31,577 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Quanterix in the fourth quarter worth $66,000. American Century Companies Inc. increased its stake in shares of Quanterix by 9.1% in the fourth quarter. American Century Companies Inc. now owns 71,992 shares of the company’s stock worth $765,000 after purchasing an additional 6,023 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Quanterix in the fourth quarter worth $11,290,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their price objective on shares of Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th.

Quanterix Price Performance

Shares of NASDAQ QTRX opened at $7.22 on Monday. The firm has a fifty day moving average price of $8.18 and a 200-day moving average price of $10.82. The stock has a market cap of $279.96 million, a PE ratio of -6.81 and a beta of 1.33. Quanterix Co. has a 1 year low of $6.30 and a 1 year high of $24.05.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, March 17th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. On average, research analysts expect that Quanterix Co. will post -0.98 EPS for the current year.

About Quanterix

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.