Insider Selling: Quanterix Corp (QTRX) Chairman Sells 2,829 Shares of Stock

Quanterix Corp (NASDAQ:QTRX) Chairman E Kevin Hrusovsky sold 2,829 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $17.97, for a total value of $50,837.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

E Kevin Hrusovsky also recently made the following trade(s):

  • On Tuesday, October 2nd, E Kevin Hrusovsky sold 2,995 shares of Quanterix stock. The shares were sold at an average price of $20.91, for a total value of $62,625.45.
  • On Wednesday, September 5th, E Kevin Hrusovsky sold 17,909 shares of Quanterix stock. The shares were sold at an average price of $14.53, for a total value of $260,217.77.

NASDAQ QTRX traded down $0.84 during trading hours on Monday, reaching $16.65. 63,600 shares of the stock traded hands, compared to its average volume of 100,096. Quanterix Corp has a 1 year low of $13.00 and a 1 year high of $24.81. The company has a market capitalization of $386.52 million and a price-to-earnings ratio of -2.02.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Friday, August 10th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). The business had revenue of $8.64 million during the quarter, compared to analyst estimates of $7.92 million. Analysts expect that Quanterix Corp will post -1.2 earnings per share for the current year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Quanterix from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Canaccord Genuity assumed coverage on Quanterix in a research report on Wednesday, October 10th. They set a “buy” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.67.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC raised its position in Quanterix by 54.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,090,893 shares of the company’s stock valued at $15,665,000 after purchasing an additional 383,602 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Quanterix by 83.6% in the second quarter. Royce & Associates LP now owns 479,000 shares of the company’s stock worth $6,878,000 after buying an additional 218,115 shares during the period. Jennison Associates LLC increased its holdings in shares of Quanterix by 1.8% in the second quarter. Jennison Associates LLC now owns 351,831 shares of the company’s stock worth $5,052,000 after buying an additional 6,170 shares during the period. BlackRock Inc. increased its holdings in shares of Quanterix by 22.1% in the second quarter. BlackRock Inc. now owns 246,466 shares of the company’s stock worth $3,539,000 after buying an additional 44,662 shares during the period. Finally, Bellevue Group AG increased its holdings in shares of Quanterix by 97.5% in the second quarter. Bellevue Group AG now owns 165,480 shares of the company’s stock worth $2,376,000 after buying an additional 81,680 shares during the period. Institutional investors and hedge funds own 49.14% of the company’s stock.

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Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.

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