NanoString Technologies, Inc. (NASDAQ:NSTG)â€™s share price rose 5.8% on Tuesday . The stock traded as high as $68.55 and last traded at $68.42. Approximately 401,617 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 442,109 shares. The stock had previously closed at $64.67.
NSTG has been the subject of several recent analyst reports. BidaskClub lowered NanoString Technologies from a â€œstrong-buyâ€ rating to a â€œbuyâ€ rating in a research note on Wednesday, December 30th. Morgan Stanley lifted their price target on NanoString Technologies from $44.00 to $55.00 and gave the company an â€œequal weightâ€ rating in a research note on Thursday, December 3rd. Robert W. Baird boosted their price objective on NanoString Technologies from $33.00 to $44.00 and gave the stock an â€œoutperformâ€ rating in a research note on Wednesday, December 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on NanoString Technologies from $45.00 to $60.00 in a research note on Wednesday, December 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of â€œBuyâ€ and an average price target of $44.17.
The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -40.01 and a beta of 1.72. The company has a fifty day moving average price of $60.96 and a two-hundred day moving average price of $44.11. The company has a current ratio of 8.94, a quick ratio of 8.12 and a debt-to-equity ratio of 1.66.
NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Monday, November 9th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping the Thomson Reutersâ€™ consensus estimate of ($0.61) by $0.05. The business had revenue of $31.85 million for the quarter, compared to analystsâ€™ expectations of $30.13 million. NanoString Technologies had a negative return on equity of 68.96% and a negative net margin of 53.47%. As a group, equities research analysts expect that NanoString Technologies, Inc. will post -2.77 earnings per share for the current year.
In related news, Director Kirk Malloy sold 2,500 shares of the companyâ€™s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $40.96, for a total value of $102,400.00. Following the transaction, the director now directly owns 1,990 shares in the company, valued at $81,510.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Hershberg sold 1,500 shares of the companyâ€™s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $39.35, for a total value of $59,025.00. Following the completion of the transaction, the director now owns 3,390 shares in the company, valued at $133,396.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,843 shares of company stock worth $1,158,521. Insiders own 4.20% of the companyâ€™s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its holdings in NanoString Technologies by 6,163.8% in the third quarter. Great West Life Assurance Co. Can now owns 198,000 shares of the biotechnology companyâ€™s stock valued at $26,000 after buying an additional 194,839 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of NanoString Technologies during the second quarter worth about $51,000. Jackson Square Capital LLC grew its holdings in shares of NanoString Technologies by 57.9% during the second quarter. Jackson Square Capital LLC now owns 1,843 shares of the biotechnology companyâ€™s stock worth $54,000 after purchasing an additional 676 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of NanoString Technologies during the third quarter worth about $54,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of NanoString Technologies during the third quarter worth about $161,000. Hedge funds and other institutional investors own 78.22% of the companyâ€™s stock.
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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