NanoString Technologies, Inc. (NSTG) Sees Large Volume Increase

NanoString Technologies, Inc. (NASDAQ:NSTG) shares saw unusually-strong trading volume on Tuesday . Approximately 719,713 shares traded hands during mid-day trading, an increase of 310% from the previous session’s volume of 175,425 shares.The stock last traded at $16.43 and had previously closed at $15.65.

Several equities analysts have commented on NSTG shares. Zacks Investment Research raised NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, July 5th. ValuEngine raised NanoString Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Cowen and Company reaffirmed a “buy” rating on shares of NanoString Technologies in a report on Friday, July 14th. Finally, BidaskClub cut NanoString Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. NanoString Technologies presently has an average rating of “Hold” and an average target price of $18.50.

The firm’s market cap is $414.10 million. The company has a 50 day moving average price of $14.93 and a 200-day moving average price of $17.06.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.17. NanoString Technologies had a negative net margin of 44.28% and a negative return on equity of 329.59%. The business had revenue of $34.59 million during the quarter, compared to the consensus estimate of $29.87 million. Equities research analysts anticipate that NanoString Technologies, Inc. will post ($2.12) earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NSTG. Teachers Advisors LLC grew its stake in shares of NanoString Technologies by 7.1% during the fourth quarter. Teachers Advisors LLC now owns 23,597 shares of the biotechnology company’s stock worth $526,000 after buying an additional 1,557 shares during the last quarter. Strs Ohio grew its stake in shares of NanoString Technologies by 4.2% during the first quarter. Strs Ohio now owns 32,600 shares of the biotechnology company’s stock worth $647,000 after buying an additional 1,300 shares during the last quarter. Eagle Global Advisors LLC bought a new stake in shares of NanoString Technologies during the first quarter worth $360,000. American International Group Inc. grew its stake in shares of NanoString Technologies by 7.4% during the first quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after buying an additional 634 shares during the last quarter. Finally, Spark Investment Management LLC grew its stake in shares of NanoString Technologies by 71.1% during the first quarter. Spark Investment Management LLC now owns 258,300 shares of the biotechnology company’s stock worth $5,132,000 after buying an additional 107,300 shares during the last quarter. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

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NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the 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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