NanoString Technologies Stock Price Down 2.9% Following Insider Selling (NSTG)
NanoString Technologies (NASDAQ:NSTG) was down 2.9% during trading on Tuesday after an insider sold shares in the company, AnalystRatingsNetwork.com reports. The stock traded as low as $11.58 and last traded at $11.65, with a volume of 52,717 shares trading hands. The stock had previously closed at $12.00.
Specifically, major shareholder Ovp Venture Partners Vi Lp sold 28,801 shares of NanoString Technologies stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $12.36, for a total value of $355,980.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Separately, analysts at Leerink Swann cut their price target on shares of NanoString Technologies from $23.00 to $21.00 in a research note on Wednesday, August 6th.
The stock has a 50-day moving average of $12.92 and a 200-day moving average of $16.08. The company’s market cap is $211.8 million.
NanoString Technologies (NASDAQ:NSTG) last released its earnings data on Tuesday, August 5th. The company reported ($0.58) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.65) by $0.07. The company had revenue of $10.90 million for the quarter, compared to the consensus estimate of $10.20 million. NanoString Technologies’s revenue was up 51.4% compared to the same quarter last year. Analysts expect that NanoString Technologies will post $-2.20 EPS for the current fiscal year.
NanoString Technologies, Inc develops, manufactures and sells products, which unlock clinically actionable genomic information from minute amounts of tissue.
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