Platinum Investment Management Ltd. increased its position in shares of NanoString Technologies, Inc. (NASDAQ:NSTG) by 31.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,000 shares of the biotechnology company’s stock after buying an additional 29,000 shares during the quarter. Platinum Investment Management Ltd. owned 0.48% of NanoString Technologies worth $1,955,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in NanoString Technologies during the third quarter worth about $124,000. Bank of Montreal Can grew its position 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 in the last quarter. Trexquant Investment LP acquired a new stake in NanoString Technologies during the third quarter worth about $203,000. Dynamic Technology Lab Private Ltd acquired a new stake in NanoString Technologies during the third quarter valued at approximately $222,000. Finally, Bank of America Corp DE boosted its holdings 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 valued at $227,000 after purchasing an additional 1,627 shares in the last quarter. 92.72% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on NSTG shares. Robert W. Baird decreased their price objective on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Zacks Investment Research raised NanoString Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Cowen reaffirmed a “buy” rating and set a $20.00 price objective on shares of NanoString Technologies in a report on Thursday, September 28th. Finally, Janney Montgomery Scott downgraded NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $17.25.
Shares of NanoString Technologies, Inc. (NASDAQ NSTG) opened at $7.29 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.35 and a quick ratio of 2.89. NanoString Technologies, Inc. has a 1-year low of $7.21 and a 1-year high of $23.31.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.11. The company had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. sell-side analysts predict that NanoString Technologies, Inc. will post -1.77 earnings per share for the current year.
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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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