NanoString Technologies Inc (NASDAQ:NSTG) Director William Young bought 30,000 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was bought at an average cost of $6.91 per share, for a total transaction of $207,300.00. Following the completion of the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at $207,300. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of NanoString Technologies Inc (NASDAQ:NSTG) traded down $0.08 on Wednesday, hitting $6.93. The stock had a trading volume of 912,396 shares, compared to its average volume of 234,452. The firm has a market capitalization of $172.49, a price-to-earnings ratio of -3.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.40 and a quick ratio of 2.84. NanoString Technologies Inc has a 52 week low of $5.87 and a 52 week high of $20.70.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Wednesday, March 7th. The biotechnology company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. The company had revenue of $35.20 million for the quarter, compared to analyst estimates of $31.57 million. NanoString Technologies had a negative return on equity of 129.90% and a negative net margin of 37.91%. The company’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period last year, the company earned ($0.55) earnings per share. research analysts expect that NanoString Technologies Inc will post -2.79 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of NSTG. ARK Investment Management LLC increased its holdings in shares of NanoString Technologies by 301.2% during the fourth quarter. ARK Investment Management LLC now owns 1,138,821 shares of the biotechnology company’s stock valued at $8,507,000 after purchasing an additional 854,963 shares during the period. Neuberger Berman Group LLC bought a new position in NanoString Technologies during the third quarter valued at about $9,677,000. Levin Capital Strategies L.P. boosted its stake in NanoString Technologies by 35.5% during the fourth quarter. Levin Capital Strategies L.P. now owns 1,273,146 shares of the biotechnology company’s stock valued at $9,510,000 after buying an additional 333,525 shares in the last quarter. Altrinsic Global Advisors LLC boosted its stake in NanoString Technologies by 54.3% during the fourth quarter. Altrinsic Global Advisors LLC now owns 483,111 shares of the biotechnology company’s stock valued at $3,609,000 after buying an additional 170,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in NanoString Technologies by 27.9% during the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock valued at $12,449,000 after buying an additional 164,141 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on NSTG shares. Zacks Investment Research lowered NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 target price (down from $13.00) on shares of NanoString Technologies in a research report on Thursday, March 8th. Finally, ValuEngine lowered NanoString Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $13.06.
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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.
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