NanoString Technologies Inc (NSTG) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of NanoString Technologies Inc (NASDAQ:NSTG) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,550 shares of the biotechnology company’s stock after selling 8,867 shares during the period. Bank of New York Mellon Corp owned 0.52% of NanoString Technologies worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of NanoString Technologies by 12.7% during the first quarter. BlackRock Inc. now owns 1,788,262 shares of the biotechnology company’s stock worth $13,430,000 after purchasing an additional 201,325 shares in the last quarter. Algert Global LLC increased its position in shares of NanoString Technologies by 8.4% during the second quarter. Algert Global LLC now owns 222,902 shares of the biotechnology company’s stock worth $3,049,000 after purchasing an additional 17,290 shares in the last quarter. Platinum Investment Management Ltd. increased its position in shares of NanoString Technologies by 66.0% during the first quarter. Platinum Investment Management Ltd. now owns 200,800 shares of the biotechnology company’s stock worth $1,508,000 after purchasing an additional 79,800 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of NanoString Technologies by 3,422.3% during the first quarter. JPMorgan Chase & Co. now owns 156,214 shares of the biotechnology company’s stock worth $1,173,000 after purchasing an additional 151,779 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of NanoString Technologies in the 1st quarter valued at $515,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Mary Tedd Allen sold 26,895 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $17.60, for a total value of $473,352.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas Galakatos sold 85,823 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $15.99, for a total value of $1,372,309.77. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

NASDAQ NSTG opened at $15.76 on Friday. The company has a debt-to-equity ratio of 5.77, a quick ratio of 2.01 and a current ratio of 2.49. NanoString Technologies Inc has a 1 year low of $5.87 and a 1 year high of $18.86. The firm has a market capitalization of $531.12 million, a P/E ratio of -8.57 and a beta of 0.46.

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.09). NanoString Technologies had a negative net margin of 54.34% and a negative return on equity of 201.90%. The firm had revenue of $25.00 million during the quarter, compared to analyst estimates of $25.10 million. On average, analysts expect that NanoString Technologies Inc will post -2.61 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on NanoString Technologies to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 13th. BidaskClub downgraded NanoString Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. Morgan Stanley upped their target price on NanoString Technologies from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday. Zacks Investment Research raised NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, October 4th. Finally, Robert W. Baird upped their target price on NanoString Technologies from $15.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.60.

About NanoString Technologies

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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Institutional Ownership by Quarter for NanoString Technologies (NASDAQ:NSTG)

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