Zacks Investment Research cut shares of NanoString Technologies (NASDAQ:NSTG) from a buy rating to a hold rating in a research note released on Saturday.

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. “

Several other equities analysts have also recently weighed in on NSTG. ValuEngine upgraded NanoString Technologies from a strong sell rating to a sell rating in a research report on Wednesday, May 9th. BidaskClub upgraded NanoString Technologies from a buy rating to a strong-buy rating in a research report on Saturday, May 19th. Robert W. Baird lifted their price target on NanoString Technologies from $13.00 to $15.00 and gave the company an outperform rating in a research report on Monday, June 4th. Finally, Morgan Stanley lifted their price target on NanoString Technologies from $12.00 to $16.00 and gave the company an equal weight rating in a research report on Friday, July 13th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $16.25.

Shares of NASDAQ NSTG opened at $13.94 on Friday. The firm has a market capitalization of $417.03 million, a PE ratio of -7.83 and a beta of 0.62. NanoString Technologies has a fifty-two week low of $5.87 and a fifty-two week high of $16.75. The company has a debt-to-equity ratio of 5.77, a current ratio of 2.49 and a quick ratio of 2.67.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.09). The company had revenue of $25.00 million during the quarter, compared to analysts’ expectations of $25.10 million. NanoString Technologies had a negative net margin of 54.34% and a negative return on equity of 201.90%. equities research analysts predict that NanoString Technologies will post -2.58 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in NSTG. ARK Investment Management LLC grew its position in shares of NanoString Technologies by 17.5% in the second quarter. ARK Investment Management LLC now owns 2,625,472 shares of the biotechnology company’s stock valued at $35,916,000 after purchasing an additional 391,070 shares in the last quarter. BlackRock Inc. grew its position in NanoString Technologies by 12.7% during the first quarter. BlackRock Inc. now owns 1,788,262 shares of the biotechnology company’s stock worth $13,430,000 after buying an additional 201,325 shares in the last quarter. JPMorgan Chase & Co. grew its position in NanoString Technologies by 3,422.3% during the first quarter. JPMorgan Chase & Co. now owns 156,214 shares of the biotechnology company’s stock worth $1,173,000 after buying an additional 151,779 shares in the last quarter. Algert Global LLC grew its position in NanoString Technologies by 111.9% during the first quarter. Algert Global LLC now owns 205,612 shares of the biotechnology company’s stock worth $1,544,000 after buying an additional 108,566 shares in the last quarter. Finally, Platinum Investment Management Ltd. grew its position in NanoString Technologies by 66.0% during the first quarter. Platinum Investment Management Ltd. now owns 200,800 shares of the biotechnology company’s stock worth $1,508,000 after buying an additional 79,800 shares in the last quarter. Institutional investors own 86.00% of the company’s stock.

NanoString Technologies Company Profile

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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