NanoString Technologies Inc. (NSTG) Trading Up 3.7%
NanoString Technologies Inc. (NASDAQ:NSTG) was up 3.7% on Tuesday . The company traded as high as $19.41 and last traded at $19.30, with a volume of 154,083 shares changing hands. The stock had previously closed at $18.62.
A number of equities research analysts have recently weighed in on NSTG shares. BTIG Research restated a “buy” rating and issued a $20.00 price objective on shares of NanoString Technologies in a report on Friday, August 5th. Zacks Investment Research lowered shares of NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.50.
The company’s market cap is $382.82 million. The company’s 50-day moving average price is $16.37 and its 200-day moving average price is $15.03.
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NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.11. NanoString Technologies had a negative net margin of 58.00% and a negative return on equity of 310.30%. The company earned $22.60 million during the quarter, compared to the consensus estimate of $19.62 million. During the same period in the previous year, the firm earned ($0.66) earnings per share. NanoString Technologies’s revenue for the quarter was up 72.5% on a year-over-year basis. On average, analysts predict that NanoString Technologies Inc. will post ($2.24) earnings per share for the current fiscal year.
In other news, Director Charles P. Waite, Jr. sold 72,145 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $16.61, for a total transaction of $1,198,328.45. Following the transaction, the director now directly owns 1,707 shares of the company’s stock, valued at $28,353.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles P. Waite, Jr. sold 257,698 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $16.55, for a total transaction of $4,264,901.90. Following the transaction, the director now directly owns 1,707 shares in the company, valued at $28,250.85. The disclosure for this sale can be found here. Company insiders own 33.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in NanoString Technologies by 14.2% in the second quarter. American International Group Inc. now owns 8,528 shares of the company’s stock worth $107,000 after buying an additional 1,062 shares during the last quarter. Nationwide Fund Advisors boosted its position in NanoString Technologies by 7.2% in the second quarter. Nationwide Fund Advisors now owns 9,064 shares of the company’s stock worth $114,000 after buying an additional 612 shares during the last quarter. Prudential Financial Inc. purchased a new position in NanoString Technologies during the second quarter worth approximately $130,000. Metropolitan Life Insurance Co. NY purchased a new position in NanoString Technologies during the second quarter worth approximately $148,000. Finally, Rhumbline Advisers boosted its position in NanoString Technologies by 14.2% in the second quarter. Rhumbline Advisers now owns 14,636 shares of the company’s stock worth $184,000 after buying an additional 1,824 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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