NanoString Technologies Inc (NASDAQ:NSTG) shares reached a new 52-week high on Monday . The stock traded as high as $36.49 and last traded at $35.94, with a volume of 758 shares changing hands. The stock had previously closed at $35.03.
Several equities research analysts recently issued reports on NSTG shares. BidaskClub cut shares of NanoString Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, June 26th. Stifel Nicolaus lowered their price target on NanoString Technologies from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. UBS Group dropped their price target on NanoString Technologies from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Robert W. Baird upped their price objective on NanoString Technologies from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Zacks Investment Research cut NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $34.50.
The company’s 50 day moving average price is $31.49 and its two-hundred day moving average price is $29.46. The company has a current ratio of 8.95, a quick ratio of 8.32 and a debt-to-equity ratio of 1.43. The firm has a market cap of $1.42 billion, a PE ratio of -22.48 and a beta of 1.29.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.33). NanoString Technologies had a negative return on equity of 73.44% and a negative net margin of 46.13%. The company had revenue of $26.61 million during the quarter, compared to the consensus estimate of $24.67 million. Equities research analysts expect that NanoString Technologies Inc will post -2.49 earnings per share for the current fiscal year.
In other NanoString Technologies news, Director Kirk Malloy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $30.00, for a total value of $45,000.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $45,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles P. Waite, Jr. sold 1,734 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $30.17, for a total transaction of $52,314.78. Following the completion of the sale, the director now directly owns 1,734 shares of the company’s stock, valued at $52,314.78. The disclosure for this sale can be found here. Insiders sold 15,357 shares of company stock worth $477,810 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in NanoString Technologies by 265.9% during the first quarter. Wellington Management Group LLP now owns 2,560,499 shares of the biotechnology company’s stock valued at $61,580,000 after acquiring an additional 1,860,727 shares during the period. Orbimed Advisors LLC purchased a new stake in shares of NanoString Technologies during the first quarter worth about $28,677,000. Pictet Asset Management Ltd. grew its position in shares of NanoString Technologies by 21.0% during the fourth quarter. Pictet Asset Management Ltd. now owns 939,816 shares of the biotechnology company’s stock worth $26,146,000 after purchasing an additional 163,093 shares in the last quarter. State Street Corp raised its stake in NanoString Technologies by 2.3% during the 1st quarter. State Street Corp now owns 694,719 shares of the biotechnology company’s stock valued at $16,708,000 after purchasing an additional 15,363 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in NanoString Technologies by 5.6% in the 1st quarter. Frontier Capital Management Co. LLC now owns 687,850 shares of the biotechnology company’s stock worth $16,543,000 after purchasing an additional 36,449 shares in the last quarter.
NanoString Technologies Company Profile (NASDAQ:NSTG)
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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