Quanterix Co. (NASDAQ:QTRX) Sees Large Decline in Short Interest

Quanterix Co. (NASDAQ:QTRX) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,990,000 shares, a decline of 19.4% from the October 15th total of 2,470,000 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily volume of 395,000 shares, the days-to-cover ratio is currently 5.0 days.

Insider Buying and Selling at Quanterix

In related news, Director David R. Walt purchased 47,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the transaction, the director now owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. This trade represents a 3.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Quanterix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Quanterix by 2.2% during the third quarter. Geode Capital Management LLC now owns 858,667 shares of the company’s stock valued at $11,131,000 after acquiring an additional 18,231 shares during the period. Barclays PLC boosted its stake in Quanterix by 42.3% during the 3rd quarter. Barclays PLC now owns 146,248 shares of the company’s stock valued at $1,896,000 after purchasing an additional 43,447 shares in the last quarter. Pier Capital LLC increased its position in shares of Quanterix by 23.5% during the 3rd quarter. Pier Capital LLC now owns 511,798 shares of the company’s stock valued at $6,633,000 after purchasing an additional 97,256 shares during the period. State Street Corp raised its stake in shares of Quanterix by 2.2% in the 3rd quarter. State Street Corp now owns 836,443 shares of the company’s stock worth $10,840,000 after buying an additional 18,050 shares in the last quarter. Finally, Portolan Capital Management LLC lifted its holdings in shares of 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 buying an additional 602,656 shares during the period. Institutional investors own 86.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on QTRX. TD Cowen increased their target price on Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday. Scotiabank dropped their price objective on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a report on Monday, August 12th.

Quanterix Stock Down 4.0 %

QTRX stock traded down $0.48 during trading on Friday, reaching $11.44. 555,932 shares of the company’s stock were exchanged, compared to its average volume of 403,176. Quanterix has a 1-year low of $10.50 and a 1-year high of $29.70. The firm has a market cap of $439.07 million, a PE ratio of -10.90 and a beta of 1.36. The company’s fifty day moving average price is $12.95 and its 200-day moving average price is $13.96.

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.