Pier Capital LLC Grows Stake in Quanterix Co. (NASDAQ:QTRX)

Pier Capital LLC raised its stake in Quanterix Co. (NASDAQ:QTRX) by 32.8% during the 4th quarter, HoldingsChannel reports. The firm owned 679,680 shares of the company’s stock after acquiring an additional 167,882 shares during the quarter. Pier Capital LLC’s holdings in Quanterix were worth $7,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Portolan Capital Management LLC raised its holdings in shares of Quanterix by 31.4% during the 3rd 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. Vanguard Group Inc. boosted its holdings in Quanterix by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock worth $23,569,000 after acquiring an additional 19,386 shares during the period. William Blair Investment Management LLC acquired a new stake in Quanterix in the fourth quarter valued at approximately $11,290,000. Geode Capital Management LLC raised 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 purchasing an additional 18,231 shares during the period. Finally, State Street Corp lifted its position in shares of Quanterix by 2.2% during the third quarter. State Street Corp now owns 836,443 shares of the company’s stock worth $10,840,000 after purchasing an additional 18,050 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Analyst Ratings Changes

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

Quanterix Stock Performance

Shares of QTRX opened at $7.19 on Tuesday. Quanterix Co. has a one year low of $6.30 and a one year high of $24.05. The stock has a 50-day moving average price of $8.15 and a 200 day moving average price of $10.78. The company has a market capitalization of $278.80 million, a P/E ratio of -6.78 and a beta of 1.33.

Quanterix (NASDAQ:QTRX) last announced its earnings results on Monday, March 17th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The business had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.93 million. As a group, equities research analysts forecast that Quanterix Co. will post -0.98 earnings per share for the current fiscal year.

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.