NanoString Technologies Inc. (NSTG) Insider Sells $839,439.25 in Stock
NanoString Technologies Inc. (NASDAQ:NSTG) insider R Bradley Gray sold 37,325 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $22.49, for a total value of $839,439.25. Following the sale, the insider now owns 79,428 shares of the company’s stock, valued at approximately $1,786,335.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of NanoString Technologies Inc. (NASDAQ:NSTG) opened at 22.80 on Thursday. NanoString Technologies Inc. has a 52-week low of $11.30 and a 52-week high of $23.45. The stock’s market cap is $478.89 million. The company’s 50 day moving average price is $20.62 and its 200 day moving average price is $16.39.
NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.51) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.01. The company had revenue of $23.90 million for the quarter, compared to analyst estimates of $23.46 million. NanoString Technologies had a negative net margin of 53.02% and a negative return on equity of 784.63%. NanoString Technologies’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.49) EPS. On average, analysts anticipate that NanoString Technologies Inc. will post ($2.21) earnings per share for the current year.
A number of brokerages have commented on NSTG. Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. BTIG Research restated a “buy” rating and issued a $20.00 price target on shares of NanoString Technologies in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $18.50.
Several institutional investors have recently made changes to their positions in NSTG. Prudential Financial Inc. raised its position in shares of NanoString Technologies by 1.2% in the third quarter. Prudential Financial Inc. now owns 10,465 shares of the company’s stock worth $209,000 after buying an additional 120 shares during the period. Rhumbline Advisers raised its position in shares of NanoString Technologies by 1.1% in the third quarter. Rhumbline Advisers now owns 14,796 shares of the company’s stock worth $296,000 after buying an additional 160 shares during the period. California State Teachers Retirement System raised its position in shares of NanoString Technologies by 0.6% in the third quarter. California State Teachers Retirement System now owns 31,267 shares of the company’s stock worth $625,000 after buying an additional 200 shares during the period. ProShare Advisors LLC raised its position in shares of NanoString Technologies by 3.0% in the second quarter. ProShare Advisors LLC now owns 16,568 shares of the company’s stock worth $209,000 after buying an additional 490 shares during the period. Finally, BlackRock Investment Management LLC raised its position in shares of NanoString Technologies by 1.1% in the third quarter. BlackRock Investment Management LLC now owns 57,415 shares of the company’s stock worth $1,147,000 after buying an additional 603 shares during the period. Institutional investors own 87.09% of the company’s stock.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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