Zacks Investment Research Downgrades NanoString Technologies, Inc. (NSTG) to Hold
NanoString Technologies, Inc. (NASDAQ:NSTG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.
According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
A number of other equities analysts also recently issued reports on NSTG. Morgan Stanley downgraded NanoString Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $23.00 to $20.00 in a research report on Thursday, April 20th. ValuEngine raised NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company reaffirmed a “buy” rating on shares of NanoString Technologies in a research report on Friday, July 14th. Finally, BidaskClub downgraded NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. NanoString Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.50.
NanoString Technologies (NASDAQ:NSTG) traded up 1.37% on Friday, reaching $14.07. The company had a trading volume of 293,903 shares. The stock’s 50-day moving average is $15.75 and its 200-day moving average is $17.64. NanoString Technologies has a 52 week low of $13.17 and a 52 week high of $23.45. The company’s market capitalization is $319.00 million.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.17. The business had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million. NanoString Technologies had a negative return on equity of 329.59% and a negative net margin of 44.28%. Equities research analysts forecast that NanoString Technologies will post ($2.24) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of NanoString Technologies by 16.7% in the fourth quarter. State Street Corp now owns 223,065 shares of the biotechnology company’s stock worth $4,977,000 after buying an additional 31,911 shares during the last quarter. Teachers Advisors LLC increased its position in NanoString Technologies by 7.1% in the fourth quarter. Teachers Advisors LLC now owns 23,597 shares of the biotechnology company’s stock valued at $526,000 after buying an additional 1,557 shares during the last quarter. Columbus Circle Investors increased its position in NanoString Technologies by 27.1% in the first quarter. Columbus Circle Investors now owns 31,181 shares of the biotechnology company’s stock valued at $620,000 after buying an additional 6,649 shares during the last quarter. Strs Ohio increased its position in NanoString Technologies by 4.2% in the first quarter. Strs Ohio now owns 32,600 shares of the biotechnology company’s stock valued at $647,000 after buying an additional 1,300 shares during the last quarter. Finally, Eagle Global Advisors LLC purchased a new position in NanoString Technologies during the first quarter valued at about $360,000. 89.47% of the stock is currently owned by institutional investors and hedge funds.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the 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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