Kent Lake Capital LLC Cuts Position in Quanterix Co. (NASDAQ:QTRX)

Kent Lake Capital LLC reduced its stake in shares of Quanterix Co. (NASDAQ:QTRX) by 52.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 188,849 shares of the company’s stock after selling 211,151 shares during the quarter. Quanterix accounts for approximately 2.0% of Kent Lake Capital LLC’s holdings, making the stock its 23rd largest holding. Kent Lake Capital LLC owned about 0.50% of Quanterix worth $5,163,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its stake in Quanterix by 35.6% during the 2nd quarter. US Bancorp DE now owns 1,709 shares of the company’s stock valued at $39,000 after acquiring an additional 449 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Quanterix by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,899 shares of the company’s stock worth $313,000 after buying an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Quanterix by 20.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,909 shares of the company’s stock worth $66,000 after buying an additional 489 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Quanterix by 184.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after acquiring an additional 574 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Quanterix by 73.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after acquiring an additional 784 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Insider Transactions at Quanterix

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the completion of the sale, the director now owns 15,238 shares in the company, valued at approximately $371,045.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Scotiabank lifted their target price on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, March 4th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Quanterix currently has a consensus rating of “Buy” and an average price target of $32.00.

Quanterix Trading Down 0.6 %

NASDAQ QTRX traded down $0.12 on Friday, reaching $21.48. The stock had a trading volume of 161,242 shares, compared to its average volume of 340,274. The business has a 50 day moving average price of $24.71 and a 200 day moving average price of $24.25. Quanterix Co. has a 1 year low of $11.29 and a 1 year high of $29.70. The company has a market capitalization of $817.53 million, a price-to-earnings ratio of -24.98 and a beta of 1.30.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). The firm had revenue of $31.55 million during the quarter, compared to analysts’ expectations of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. On average, analysts anticipate that Quanterix Co. will post -1.04 earnings per share for the current fiscal 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.