In yesterday’s Wall Street session, Quanterix Corporation (NASDAQ:QTRX) shares traded at $12.11, down -0.33% from the previous session.
3 analysts cover Quanterix Corporation (NASDAQ:QTRX), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $13.00, we find $13.00. Given the previous closing price of $12.15, this indicates a potential upside of 7.0 percent. QTRX stock price is now -8.70% away from the 50-day moving average and -6.81% away from the 200-day moving average. The market capitalization of the company currently stands at $472.29M.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
The stock has received a hold rating from 3 analysts and a buy rating from 0. Brokers who have rated the stock have averaged $13.67 as their price target over the next twelve months.
With the price target reduced from $40 to $12, Canaccord Genuity Downgraded its rating from Buy to Hold for Quanterix Corporation (NASDAQ: QTRX). On August 09, 2022, SVB Leerink Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock reducing its target price from $35 to quote $15, while ‘Cowen’ rates the stock as ‘Market Perform’.
In other news, DOYLE MICHAEL A, CFO and Treasurer bought 15,000 shares of the company’s stock on Aug 15. The stock was bought for $152,418 at an average price of $10.16. Upon completion of the transaction, the CFO and Treasurer now directly owns 48,614 shares in the company, valued at $0.59 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 12, President & CEO Toloue Masoud bought 105,000 shares of the business’s stock. A total of $1,095,150 was incurred on buying the stock at an average price of $10.43. This leaves the insider owning 185,823 shares of the company worth $2.25 million. Insiders disposed of 16,600 shares of company stock worth roughly $0.2 million over the past 1 year. A total of 8.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QTRX stock. A new stake in Quanterix Corporation shares was purchased by BOONE CAPITAL MANAGEMENT LLC during the first quarter worth $5,937,000. FULLER & THALER ASSET MANAGEMENT, INC. invested $2,048,000 in shares of QTRX during the first quarter. In the first quarter, JEFFERIES GROUP LLC acquired a new stake in Quanterix Corporation valued at approximately $534,000. NUMERAI GP LLC acquired a new stake in QTRX for approximately $459,000. JUMP FINANCIAL, LLC purchased a new stake in QTRX valued at around $335,000 in the second quarter. In total, there are 213 active investors with 82.80% ownership of the company’s stock.
On Tuesday morning Quanterix Corporation (NASDAQ: QTRX) stock kicked off with the opening price of $12.57. During the past 12 months, Quanterix Corporation has had a low of $6.31 and a high of $31.33. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 12.30, and a quick ratio of 11.80. The fifty day moving average price for QTRX is $13.23 and a two-hundred day moving average price translates $12.97 for the stock.
The latest earnings results from Quanterix Corporation (NASDAQ: QTRX) was released for Sep, 2022. According to the Medical Devices Company, earnings per share came in at -$0.95, missing analysts’ expectations of -$0.42 by -0.53. This compares to -$0.55 EPS in the same period last year. The net profit margin was -91.60% and return on equity was -24.70% for QTRX. The company reported revenue of $25.82 million for the quarter, compared to $30.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.74 percent. For the current quarter, analysts expect QTRX to generate $25.78M in revenue.
Quanterix Corporation(QTRX) 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. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids. The company also provides SP-X instrument that is based on Simoa planar array technology for the measurement of multiplex chemiluminescent immunoassays. The company’s products include assay kits and other consumables such as reagents. In addition, it offers contract research services, including sample testing, homebrew assay development, and custom development services. The company primarily operates in the areas of neurology, oncology, cardiology, infectious diseases, and inflammation. It sells its products for the life science research sector primarily to laboratories associated with academic and governmental research institutions, as well as pharmaceutical, biotechnology, and contract research companies through a direct sales force, support organizations, and distributors or sales agents. The company was formerly known as Digital Genomics, Inc. and changed its name to Quanterix Corporation in August 2007. Quanterix Corporation was incorporated in 2007 and is headquartered in Billerica, Massachusetts.
