NanoString Technologies Inc. (NSTG) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
Separately, BTIG Research reiterated a buy rating and issued a $20.00 price objective on shares of NanoString Technologies in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $18.50.
Shares of NanoString Technologies (NASDAQ:NSTG) opened at 22.49 on Tuesday. NanoString Technologies has a 12 month low of $11.30 and a 12 month high of $23.45. The stock’s 50 day moving average is $20.97 and its 200 day moving average is $16.60. The company’s market cap is $472.38 million.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.01. The firm had revenue of $23.90 million for the quarter, compared to the consensus estimate of $23.46 million. NanoString Technologies had a negative net margin of 53.02% and a negative return on equity of 784.63%. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.49) EPS. On average, analysts anticipate that NanoString Technologies will post ($2.21) EPS for the current fiscal year.
In related news, CFO James A. Johnson sold 10,000 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $22.57, for a total value of $225,700.00. Following the transaction, the chief financial officer now directly owns 10,698 shares of the company’s stock, valued at approximately $241,453.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Barney Saunders sold 11,983 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $22.48, for a total transaction of $269,377.84. Following the completion of the transaction, the senior vice president now directly owns 6,371 shares in the company, valued at $143,220.08. The disclosure for this sale can be found here. 33.30% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Redmile Group LLC increased its position in shares of NanoString Technologies by 4.6% in the second quarter. Redmile Group LLC now owns 1,949,185 shares of the company’s stock worth $24,560,000 after buying an additional 86,150 shares during the period. Morgan Stanley increased its position in shares of NanoString Technologies by 1.1% in the third quarter. Morgan Stanley now owns 1,568,392 shares of the company’s stock worth $31,336,000 after buying an additional 17,255 shares during the period. Cadian Capital Management LP increased its position in shares of NanoString Technologies by 1.8% in the third quarter. Cadian Capital Management LP now owns 1,458,839 shares of the company’s stock worth $29,148,000 after buying an additional 25,829 shares during the period. BlackRock Fund Advisors increased its position in shares of NanoString Technologies by 5.7% in the third quarter. BlackRock Fund Advisors now owns 675,769 shares of the company’s stock worth $13,502,000 after buying an additional 36,397 shares during the period. Finally, Deerfield Management Co. increased its position in shares of NanoString Technologies by 11.3% in the second quarter. Deerfield Management Co. now owns 674,622 shares of the company’s stock worth $8,500,000 after buying an additional 68,400 shares during the period. 84.61% of the stock is currently owned by institutional investors.
About NanoString Technologies
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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