NanoString Technologies Inc. (NSTG) Reaches New 1-Year High at $19.48
NanoString Technologies Inc. (NASDAQ:NSTG) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $19.48 and last traded at $19.10, with a volume of 98,025 shares changing hands. The stock had previously closed at $19.29.
NSTG has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of NanoString Technologies in a report on Friday, August 5th. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, July 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. NanoString Technologies presently has a consensus rating of “Buy” and an average target price of $18.50.
The firm’s 50 day moving average is $16.53 and its 200-day moving average is $15.06. The stock’s market cap is $378.85 million.
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NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.55) EPS for the quarter, beating 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 business earned $22.60 million during the quarter, compared to the consensus estimate of $19.62 million. During the same quarter in the prior year, the firm earned ($0.66) EPS. The business’s revenue was up 72.5% on a year-over-year basis. Equities analysts anticipate that NanoString Technologies Inc. will post ($2.24) earnings per share for the current year.
In related news, SVP Wayne Burns sold 3,961 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $16.50, for a total value of $65,356.50. Following the completion of the transaction, the senior vice president now owns 59,704 shares of the company’s stock, valued at approximately $985,116. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles P. Waite, Jr. sold 257,698 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $16.55, for a total transaction of $4,264,901.90. Following the completion of the transaction, the director now directly owns 1,707 shares of the company’s stock, valued at approximately $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 made changes to their positions in the stock. Granite Investment Partners LLC acquired a new position in shares of NanoString Technologies during the first quarter worth approximately $1,027,000. Foresite Capital Management II LLC increased its position in shares of NanoString Technologies by 34.7% in the first quarter. Foresite Capital Management II LLC now owns 659,486 shares of the company’s stock worth $10,037,000 after buying an additional 170,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of NanoString Technologies by 5.0% in the first quarter. TIAA CREF Investment Management LLC now owns 43,593 shares of the company’s stock worth $663,000 after buying an additional 2,094 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of NanoString Technologies by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 194,909 shares of the company’s stock worth $2,967,000 after buying an additional 2,390 shares during the last quarter. Finally, State Street Corp increased its position in shares of NanoString Technologies by 10.8% in the first quarter. State Street Corp now owns 180,483 shares of the company’s stock worth $2,749,000 after buying an additional 17,548 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.
About NanoString Technologies
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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