NanoString Technologies, Inc. (NASDAQ:NSTG) Receives … – MarketBeat
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NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $28.57.
Several research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of NanoString Technologies from $30.00 to $14.00 in a research report on Thursday, November 10th. Cowen dropped their price objective on shares of NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, November 8th. StockNews.com assumed coverage on shares of NanoString Technologies in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Morgan Stanley dropped their price objective on shares of NanoString Technologies from $28.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 9th. Finally, Robert W. Baird lowered their target price on shares of NanoString Technologies from $21.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, November 8th.
NanoString Technologies Stock Performance
NASDAQ:NSTG opened at $6.86 on Wednesday. NanoString Technologies has a 1 year low of $4.37 and a 1 year high of $43.81. The firm has a 50 day moving average of $7.93 and a 200-day moving average of $11.50. The company has a current ratio of 6.26, a quick ratio of 5.36 and a debt-to-equity ratio of 2.73. The stock has a market capitalization of $320.00 million, a P/E ratio of -2.18 and a beta of 1.61.
NanoString Technologies (NASDAQ:NSTG – Get Rating) last posted its earnings results on Monday, November 7th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.33). NanoString Technologies had a negative net margin of 106.94% and a negative return on equity of 111.76%. The firm had revenue of $29.54 million during the quarter, compared to the consensus estimate of $35.45 million. As a group, sell-side analysts anticipate that NanoString Technologies will post -3.02 EPS for the current fiscal year.
Insider Activity
In other news, CEO R Bradley Gray purchased 62,500 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was bought at an average price of $7.35 per share, with a total value of $459,375.00. Following the acquisition, the chief executive officer now directly owns 264,837 shares of the company’s stock, valued at $1,946,551.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO K Thomas Bailey purchased 29,161 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The stock was bought at an average price of $8.05 per share, with a total value of $234,746.05. Following the acquisition, the chief financial officer now directly owns 48,533 shares of the company’s stock, valued at $390,690.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Bradley Gray bought 62,500 shares of NanoString Technologies stock in a transaction that occurred on Monday, December 12th. The stock was bought at an average cost of $7.35 per share, with a total value of $459,375.00. Following the completion of the purchase, the chief executive officer now owns 264,837 shares in the company, valued at approximately $1,946,551.95. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On NanoString Technologies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC lifted its position in NanoString Technologies by 3.5% during the 1st quarter. Guggenheim Capital LLC now owns 19,410 shares of the biotechnology company’s stock worth $675,000 after buying an additional 659 shares in the last quarter. LPL Financial LLC lifted its position in NanoString Technologies by 3.9% during the 2nd quarter. LPL Financial LLC now owns 20,563 shares of the biotechnology company’s stock worth $261,000 after buying an additional 779 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in NanoString Technologies by 21.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,595 shares of the biotechnology company’s stock worth $162,000 after buying an additional 800 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of NanoString Technologies by 4.4% in the 2nd quarter. First Republic Investment Management Inc. now owns 22,393 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 953 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of NanoString Technologies by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 227,288 shares of the biotechnology company’s stock valued at $7,898,000 after purchasing an additional 1,033 shares during the period.
About NanoString Technologies
(Get Rating)
NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.
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