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. “
Separately, BidaskClub downgraded NanoString Technologies from a hold rating to a sell rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. NanoString Technologies presently has a consensus rating of Buy and a consensus target price of $24.60.
NanoString Technologies stock opened at $22.16 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 5.21 and a quick ratio of 4.76. NanoString Technologies has a 1-year low of $13.26 and a 1-year high of $34.78. The firm has a market capitalization of $792.08 million, a P/E ratio of -7.97 and a beta of 1.22. The company’s 50-day moving average is $26.67 and its 200 day moving average is $26.80.
NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.02). The firm had revenue of $30.35 million during the quarter, compared to the consensus estimate of $29.00 million. NanoString Technologies had a negative return on equity of 118.03% and a negative net margin of 68.16%. Research analysts anticipate that NanoString Technologies will post -2.35 earnings per share for the current fiscal year.
In other news, CEO R Bradley Gray sold 40,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $24.84, for a total value of $993,600.00. Following the completion of the sale, the chief executive officer now owns 89,905 shares in the company, valued at approximately $2,233,240.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mary Tedd Allen sold 64,333 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.90, for a total transaction of $1,923,556.70. Following the completion of the sale, the senior vice president now owns 55,433 shares of the company’s stock, valued at approximately $1,657,446.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,504 shares of company stock worth $4,971,528. 5.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of NSTG. Harbourvest Partners LLC bought a new stake in NanoString Technologies during the 2nd quarter valued at $1,692,000. Rehmann Capital Advisory Group grew its stake in NanoString Technologies by 184.2% in the second quarter. Rehmann Capital Advisory Group now owns 41,931 shares of the biotechnology company’s stock valued at $1,273,000 after purchasing an additional 27,175 shares during the last quarter. United Services Automobile Association bought a new position in NanoString Technologies in the second quarter worth about $228,000. River & Mercantile Asset Management LLP bought a new position in NanoString Technologies in the second quarter worth about $1,604,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of NanoString Technologies during the second quarter valued at about $18,453,000. 99.96% of the stock is currently owned by institutional investors.
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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