In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Quantum-Si, with a price target of $4.00.
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Swayampakula Ramakanth’s rating is based on Quantum-Si’s strategic focus on long-term growth despite short-term revenue challenges. The company is preparing for the launch of its next-generation protein sequencing device, Proteus, which is expected to drive future growth. By expanding purchasing options for its existing product, Platinum, Quantum-Si aims to familiarize customers with its technology, potentially increasing the adoption of Proteus upon its release.
Additionally, while the company faced revenue setbacks due to funding challenges in the academic sector and a shift towards biopharmaceutical clients with longer sales cycles, its partnership with Avantor is seen as a positive factor for future sales. The company has also extended its cash runway to support its development timeline, and pipeline milestones remain on track, including the launch of new sequencing kits. These factors collectively contribute to the Buy rating, reflecting confidence in Quantum-Si’s long-term potential.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QSI in relation to earlier this year.