Quanterix Corporation [QTRX] Stock trading around $7.46 per share: What’s Next?

Quanterix Corporation [NASDAQ: QTRX] stock went on a downward path that fall over -54.76% on Tuesday, amounting to a one-week price decrease of less than -53.23%. The company report on August 8, 2022 that Quanterix Announces the Resignation of Kevin Hrusovsky as Executive Chairman of Board of Directors.

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Quanterix Corporation (NASDAQ: QTRX), a company expanding the limits of exploration with ultrasensitive biomarker detection, today announced that E. Kevin Hrusovsky is stepping down as Executive Chairman of its Board of Directors.

Mr. Hrusovsky has served as the Chairman of Quanterix’ Board of Directors (the “Board”) since June 2014 and as Quanterix’ President and Chief Executive Officer from January 2015 until April 25, 2022, when he was appointed Executive Chairman of the Board as part of its leadership succession plan.

Over the last 12 months, QTRX stock dropped by -86.36%. The one-year Quanterix Corporation stock forecast points to a potential upside of 78.38. The average equity rating for QTRX stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $270.95 million, with 36.85 million shares outstanding and 34.25 million shares in the current float. Compared to the average trading volume of 387.01K shares, QTRX stock reached a trading volume of 11938980 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Quanterix Corporation [QTRX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QTRX shares is $34.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QTRX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

SVB Leerink have made an estimate for Quanterix Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on August 09, 2022. While these analysts kept the previous recommendation, Cowen dropped their target price from $38 to $18. The new note on the price target was released on August 09, 2022, representing the official price target for Quanterix Corporation stock. Previously, the target price had yet another raise to $40, while Goldman analysts kept a Neutral rating on QTRX stock.

The Average True Range (ATR) for Quanterix Corporation is set at 1.76, with the Price to Sales ratio for QTRX stock in the period of the last 12 months amounting to 2.40. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 10.31.

QTRX Stock Performance Analysis:

Quanterix Corporation [QTRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -53.23. With this latest performance, QTRX shares dropped by -58.49% in over the last four-week period, additionally sinking by -77.52% over the last 6 months – not to mention a drop of -86.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QTRX stock in for the last two-week period is set at 22.92, with the RSI for the last a single of trading hit 16.94, and the three-weeks RSI is set at 27.57 for Quanterix Corporation [QTRX]. The present Moving Average for the last 50 days of trading for this stock 17.07, while it was recorded at 15.13 for the last single week of trading, and 29.47 for the last 200 days.

Insight into Quanterix Corporation Fundamentals:

Quanterix Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.90 and a Current Ratio set at 13.70.

Quanterix Corporation [QTRX] Insider Position Details

There are presently around $232 million, or 86.50% of QTRX stock, in the hands of institutional investors. The top three institutional holders of QTRX stocks are: MACQUARIE GROUP LTD with ownership of 2,659,408, which is approximately -15.515% of the company’s market cap and around 3.60% of the total institutional ownership; BLACKROCK INC., holding 2,439,985 shares of the stock with an approximate value of $18.2 million in QTRX stocks shares; and GILDER GAGNON HOWE & CO LLC, currently with $16.8 million in QTRX stock with ownership of nearly -20.611% of the company’s market capitalization.

68 institutional holders increased their position in Quanterix Corporation [NASDAQ:QTRX] by around 4,895,828 shares. Additionally, 72 investors decreased positions by around 5,766,066 shares, while 24 investors held positions by with 20,502,023 shares. The mentioned changes placed institutional holdings at 31,163,917 shares, according to the latest SEC report filing. QTRX stock had 14 new institutional investments in for a total of 297,473 shares, while 20 institutional investors sold positions of 1,184,465 shares during the same period.


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