NanoString Technologies Inc (NSTG) Stake Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in NanoString Technologies Inc (NASDAQ:NSTG) by 94.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,307 shares of the biotechnology company’s stock after selling 336,893 shares during the quarter. Renaissance Technologies LLC’s holdings in NanoString Technologies were worth $250,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NSTG. Engineers Gate Manager LP bought a new position in shares of NanoString Technologies in the second quarter worth approximately $261,000. GSA Capital Partners LLP bought a new position in shares of NanoString Technologies in the second quarter worth approximately $271,000. Acadian Asset Management LLC bought a new position in shares of NanoString Technologies in the second quarter worth approximately $325,000. Fred Alger Management Inc. increased its position in shares of NanoString Technologies by 542.9% in the second quarter. Fred Alger Management Inc. now owns 45,000 shares of the biotechnology company’s stock worth $616,000 after purchasing an additional 38,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of NanoString Technologies by 32.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 48,053 shares of the biotechnology company’s stock worth $658,000 after purchasing an additional 11,653 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

In other NanoString Technologies news, SVP Mary Tedd Allen sold 26,895 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $17.60, for a total transaction of $473,352.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas Galakatos sold 85,823 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $15.99, for a total transaction of $1,372,309.77. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

NSTG stock opened at $15.96 on Friday. NanoString Technologies Inc has a 1-year low of $5.87 and a 1-year high of $18.86. The company has a current ratio of 2.49, a quick ratio of 2.01 and a debt-to-equity ratio of 5.77.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. NanoString Technologies had a negative net margin of 54.34% and a negative return on equity of 201.90%. The business had revenue of $28.62 million for the quarter, compared to analysts’ expectations of $25.90 million. On average, equities analysts anticipate that NanoString Technologies Inc will post -2.6 earnings per share for the current year.

Several research analysts recently weighed in on the stock. BidaskClub cut shares of NanoString Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. ValuEngine upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Thursday, October 4th. Morgan Stanley upped their price objective on shares of NanoString Technologies from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of NanoString Technologies to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 13th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.60.

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

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