NanoString Technologies (NSTG) Lowered to Strong Sell at ValuEngine

NanoString Technologies (NASDAQ:NSTG) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Several other brokerages also recently issued reports on NSTG. Robert W. Baird lowered their price objective on shares of NanoString Technologies from $23.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, October 12th. Janney Montgomery Scott downgraded shares of NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Cowen downgraded shares of NanoString Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.06.

Shares of NanoString Technologies (NASDAQ NSTG) traded down $0.29 during trading on Friday, reaching $6.95. 119,567 shares of the company’s stock traded hands, compared to its average volume of 152,029. NanoString Technologies has a 52 week low of $6.94 and a 52 week high of $20.70. The company has a current ratio of 3.35, a quick ratio of 2.89 and a debt-to-equity ratio of 1.08.

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in shares of NanoString Technologies by 1.3% in the second quarter. California State Teachers Retirement System now owns 31,367 shares of the biotechnology company’s stock valued at $519,000 after acquiring an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of NanoString Technologies by 25.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock valued at $257,000 after acquiring an additional 3,132 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of NanoString Technologies by 20.6% in the second quarter. Rhumbline Advisers now owns 21,332 shares of the biotechnology company’s stock valued at $353,000 after acquiring an additional 3,640 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of NanoString Technologies by 7.7% in the second quarter. TIAA CREF Investment Management LLC now owns 70,742 shares of the biotechnology company’s stock valued at $1,170,000 after acquiring an additional 5,068 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in shares of NanoString Technologies by 17.1% in the third quarter. Nationwide Fund Advisors now owns 48,125 shares of the biotechnology company’s stock valued at $778,000 after acquiring an additional 7,027 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

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About NanoString Technologies

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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