NanoString Technologies (NASDAQ:NSTG) Cut to Sell at Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a hold rating to a sell rating in a research note issued to investors on Saturday, Zacks.com reports.

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. “

NSTG has been the subject of a number of other reports. ValuEngine raised NanoString Technologies from a hold rating to a buy rating in a research note on Friday, November 1st. BidaskClub raised NanoString Technologies from a sell rating to a hold rating in a research note on Tuesday, October 29th.

Shares of NanoString Technologies stock traded down $0.63 during midday trading on Friday, hitting $23.12. 668,400 shares of the company were exchanged, compared to its average volume of 504,510. The firm has a 50 day simple moving average of $22.23 and a 200-day simple moving average of $25.86. The firm has a market cap of $886.10 million, a P/E ratio of -8.32 and a beta of 1.20. NanoString Technologies has a 52 week low of $13.26 and a 52 week high of $34.78. 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 (NASDAQ:NSTG) last released its earnings results on Monday, November 4th. The biotechnology company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.10). NanoString Technologies had a negative net margin of 72.30% and a negative return on equity of 118.36%. The firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $28.05 million. Equities research analysts expect that NanoString Technologies will post -2.5 earnings per share for the current year.

In related news, Director Charles P. Waite, Jr. sold 1,707 shares of NanoString Technologies stock in a transaction on Friday, September 13th. The stock was sold at an average price of $21.75, for a total transaction of $37,127.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk Malloy sold 1,000 shares of NanoString Technologies stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $25.05, for a total value of $25,050.00. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $25,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,253 shares of company stock valued at $2,207,923. 5.10% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its holdings in NanoString Technologies by 133.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock worth $722,000 after acquiring an additional 13,610 shares in the last quarter. ARK Investment Management LLC lifted its holdings in NanoString Technologies by 1.4% during the second quarter. ARK Investment Management LLC now owns 3,526,095 shares of the biotechnology company’s stock worth $107,017,000 after acquiring an additional 49,569 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in NanoString Technologies by 101.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock worth $28,718,000 after acquiring an additional 477,313 shares in the last quarter. Invesco Ltd. lifted its holdings in NanoString Technologies by 241.3% during the second quarter. Invesco Ltd. now owns 156,032 shares of the biotechnology company’s stock worth $4,736,000 after acquiring an additional 110,315 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in NanoString Technologies by 10.7% during the second quarter. Vanguard Group Inc. now owns 1,727,959 shares of the biotechnology company’s stock worth $52,443,000 after acquiring an additional 166,877 shares in the last quarter.

NanoString Technologies Company Profile

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.

Recommended Story: How does the Beige Book influence monetary policy?

Get a free copy of the Zacks research report on NanoString Technologies (NSTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NanoString Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies and related companies with MarketBeat.com's FREE daily email newsletter.