TD Cowen Forecasts Strong Price Appreciation for Quanterix (NASDAQ:QTRX) Stock

Quanterix (NASDAQ:QTRX) had its target price hoisted by TD Cowen from $13.50 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential upside of 26.98% from the company’s previous close.

Separately, Scotiabank decreased their price target on Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research note on Monday, August 12th.

Quanterix Price Performance

NASDAQ:QTRX traded down $2.57 during mid-day trading on Wednesday, reaching $12.60. The stock had a trading volume of 478,937 shares, compared to its average volume of 398,147. Quanterix has a fifty-two week low of $10.50 and a fifty-two week high of $29.70. The business’s 50 day moving average is $12.97 and its 200 day moving average is $14.03. The stock has a market cap of $483.58 million, a P/E ratio of -12.00 and a beta of 1.36.

Insider Buying and Selling

In other Quanterix news, Director David R. Walt purchased 47,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were bought at an average cost of $13.29 per share, with a total value of $624,630.00. Following the transaction, the director now directly owns 1,487,342 shares in the company, valued at approximately $19,766,775.18. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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. nVerses Capital LLC acquired a new stake in Quanterix in the 3rd quarter worth $60,000. Comerica Bank increased its stake in Quanterix by 44,205.6% during the first quarter. Comerica Bank now owns 7,975 shares of the company’s stock valued at $188,000 after acquiring an additional 7,957 shares during the period. Canada Pension Plan Investment Board acquired a new position in Quanterix in the 2nd quarter valued at approximately $140,000. SG Americas Securities LLC bought a new stake in shares of Quanterix in the 3rd quarter worth approximately $139,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Quanterix by 34.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after purchasing an additional 3,279 shares in the last quarter. Institutional investors own 86.48% of the company’s stock.

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.