Redmile Group LLC Has $14.34 Million Stake in NanoString Technologies, Inc. (NSTG)

Redmile Group LLC lowered its holdings in shares of NanoString Technologies, Inc. (NASDAQ:NSTG) by 7.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 866,819 shares of the biotechnology company’s stock after selling 67,605 shares during the period. Redmile Group LLC owned about 3.82% of NanoString Technologies worth $14,337,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in NanoString Technologies by 3,731.4% during the second quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after buying an additional 9,142 shares during the last quarter. American International Group Inc. raised its stake in 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. Bank of America Corp DE raised its stake in NanoString Technologies by 16.6% during the first quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock worth $227,000 after buying an additional 1,627 shares during the last quarter. Alliancebernstein L.P. bought a new position in NanoString Technologies during the second quarter worth $261,000. Finally, Rhumbline Advisers raised its stake in NanoString Technologies by 20.6% during the second quarter. Rhumbline Advisers now owns 21,332 shares of the biotechnology company’s stock worth $353,000 after buying an additional 3,640 shares during the last quarter. 92.98% of the stock is owned by hedge funds and other institutional investors.

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Shares of NanoString Technologies, Inc. (NSTG) traded up 0.50% during trading on Friday, reaching $16.18. 272,214 shares of the company were exchanged. NanoString Technologies, Inc. has a one year low of $13.17 and a one year high of $23.45. The stock has a 50-day moving average price of $15.59 and a 200-day moving average price of $16.72. The stock’s market capitalization is $407.80 million.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.17. The business had revenue of $34.59 million during the quarter, compared to analysts’ expectations of $29.87 million. NanoString Technologies had a negative net margin of 44.28% and a negative return on equity of 329.59%. Analysts forecast that NanoString Technologies, Inc. will post ($2.14) EPS for the current year.

A number of equities analysts recently weighed in on NSTG shares. Cowen and Company reissued a “buy” rating and set a $20.00 target price on shares of NanoString Technologies in a research note on Thursday, September 28th. ValuEngine raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, BidaskClub downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.00.

NanoString Technologies 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.

Institutional Ownership by Quarter for NanoString Technologies (NASDAQ:NSTG)

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