Connor Clark & Lunn Investment Management Ltd. Lowers Position in Quanterix Co. (NASDAQ:QTRX)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Quanterix Co. (NASDAQ:QTRX) by 17.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 31,902 shares of the company’s stock after selling 6,648 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Quanterix were worth $339,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Quanterix by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company’s stock worth $1,150,000 after purchasing an additional 1,963 shares during the period. Janney Capital Management LLC lifted its position in Quanterix by 40.9% during the 4th quarter. Janney Capital Management LLC now owns 33,192 shares of the company’s stock valued at $353,000 after acquiring an additional 9,639 shares during the period. Peapack Gladstone Financial Corp bought a new stake in Quanterix during the third quarter worth about $131,000. Intech Investment Management LLC purchased a new stake in Quanterix in the third quarter worth about $170,000. Finally, Exome Asset Management LLC lifted its holdings in shares of Quanterix by 23.2% during the third quarter. Exome Asset Management LLC now owns 73,501 shares of the company’s stock valued at $953,000 after purchasing an additional 13,851 shares during the last quarter. Institutional investors own 86.48% of the company’s stock.

Quanterix Stock Performance

Shares of NASDAQ QTRX opened at $7.22 on Monday. The company has a market cap of $279.96 million, a PE ratio of -6.81 and a beta of 1.33. The firm’s 50 day moving average price is $8.18 and its 200-day moving average price is $10.82. Quanterix Co. has a 52-week low of $6.30 and a 52-week high of $24.05.

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

Analyst Ratings Changes

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

Quanterix 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.