Short Interest in Quanterix Co. (NASDAQ:QTRX) Expands By 19.8%

Quanterix Co. (NASDAQ:QTRX) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,330,000 shares, a growth of 19.8% from the April 15th total of 1,110,000 shares. Based on an average daily trading volume, of 387,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.8% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research analysts have weighed in on QTRX shares. Scotiabank boosted their target price on shares of Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Canaccord Genuity Group cut their price objective on Quanterix from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Quanterix has an average rating of “Buy” and an average target price of $30.60.

Quanterix Stock Up 6.3 %

NASDAQ:QTRX traded up $1.06 during trading hours on Wednesday, hitting $17.88. 467,725 shares of the stock were exchanged, compared to its average volume of 365,834. The company’s 50 day moving average is $20.58 and its two-hundred day moving average is $22.99. The company has a market capitalization of $684.27 million, a P/E ratio of -18.62 and a beta of 1.41. Quanterix has a twelve month low of $14.26 and a twelve month high of $29.70.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The company had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. On average, equities research analysts expect that Quanterix will post -0.86 EPS for the current year.

Hedge Funds Weigh In On Quanterix

A number of institutional investors have recently added to or reduced their stakes in QTRX. Gotham Asset Management LLC acquired a new position in shares of Quanterix during the 3rd quarter worth about $423,000. Lord Abbett & CO. LLC acquired a new position in Quanterix during the third quarter worth approximately $27,744,000. Strs Ohio lifted its position in shares of Quanterix by 5.7% in the fourth quarter. Strs Ohio now owns 18,400 shares of the company’s stock valued at $503,000 after buying an additional 1,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Quanterix by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,997,295 shares of the company’s stock worth $54,207,000 after acquiring an additional 26,660 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Quanterix during the 3rd quarter worth approximately $1,049,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

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.