Quanterix Co. (NASDAQ:QTRX) Sees Strong Rise in Short Interest

Quanterix Co. (NASDAQ:QTRX) has experienced a notable increase in short interest throughout the month of February. As of February 15th, the short interest amounted to 2,770,000 shares, representing a significant growth of 21.5% from the January 31st total of 2,280,000 shares. Currently, about 8.4% of the company's shares are short sold. Considering the average trading volume, which stands at 633,300 shares, the days-to-cover ratio is calculated to be approximately 4.4 days.

Recent Institutional Trading of Quanterix

In recent months, several hedge funds and institutional investors have actively bought and sold shares of Quanterix. Ameriprise Financial Inc. has increased its holdings in Quanterix by an impressive 111.3% during the fourth quarter, now owning 3,205,928 shares valued at around $34,079,000 after acquiring an additional 1,688,680 shares. Moreover, William Blair Investment Management LLC ventured into a new position in Quanterix, valued at approximately $11,290,000, during the fourth quarter.

Portolan Capital Management LLC also raised its holdings by 31.4% in the third quarter, bringing its total to 2,520,686 shares valued at $32,668,000 after adding 602,656 shares. Similarly, Easterly Investment Partners LLC boosted its position by 26.5%, now owning 876,133 shares worth $11,355,000 following the purchase of 183,387 shares.

Lastly, Pier Capital LLC increased its stake in Quanterix by 32.8% in the fourth quarter, now holding 679,680 shares valued at $7,225,000 after acquiring 167,882 additional shares. Collectively, institutional investors hold approximately 86.48% of Quanterix's stock.

Analyst Ratings Update

In related news, TD Cowen has raised their price target for Quanterix from $13.50 to $16.00 and designated the stock with a "hold" rating in a report dated November 13th.

Current Trading Status of Quanterix

As of Thursday's midday trading, QTRX stock declined by 2.2%, dropping $0.17 to reach $7.48. A total of 303,956 shares changed hands, compared to the average trading volume of 479,216 shares. Over the past year, Quanterix has seen a low of $6.80 and a peak of $29.70. The company's market capitalization is currently $288.16 million, with a P/E ratio of -7.06 and a beta of 1.33. The stock’s 50-day moving average rests at $9.11, while the 200-day moving average is $11.32.

Quanterix last released its quarterly earnings data on December 23rd, reporting earnings per share (EPS) of ($0.22). With a negative net margin of 30.12%, the company also reported a negative return on equity of 11.74%. Analysts expect Quanterix to post an EPS of -0.98 for the current fiscal year.

About Quanterix Co.

Quanterix Corporation, based in the life sciences sector, focuses on the development and marketing of digital immunoassay platforms aimed at advancing precision health for life sciences research and diagnostics across North America, Europe, the Middle East, Africa, and the Asia Pacific regions. They offer products including the HD-X instrument, a platform for protein detection, and the SR-X instrument, which allows researchers to use Simoa detection in a wider range of applications.

Quanterix, Stocks, ShortInterest