NanoString Technologies (NASDAQ:NSTG) Reaches New 1-Year High at $76.00


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NanoString Technologies, Inc. (NASDAQ:NSTG) shares reached a new 52-week high on Thursday . The stock traded as high as $76.00 and last traded at $75.81, with a volume of 6187 shares traded. The stock had previously closed at $71.72.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday. Cowen upgraded NanoString Technologies from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Wednesday, January 6th. JPMorgan Chase & Co. increased their price objective on NanoString Technologies from $45.00 to $60.00 in a research note on Wednesday, December 2nd. Morgan Stanley lifted their price objective on NanoString Technologies from $44.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, December 3rd. Finally, Robert W. Baird boosted their target price on NanoString Technologies from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $52.29.

The company’s 50-day simple moving average is $64.55 and its 200 day simple moving average is $45.66. The firm has a market cap of $3.44 billion, a P/E ratio of -45.88 and a beta of 1.72. The company has a debt-to-equity ratio of 1.66, a current ratio of 8.94 and a quick ratio of 8.12.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Monday, November 9th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.05. NanoString Technologies had a negative net margin of 53.47% and a negative return on equity of 68.96%. The firm had revenue of $31.85 million for the quarter, compared to analysts’ expectations of $30.13 million. Analysts anticipate that NanoString Technologies, Inc. will post -2.77 EPS for the current fiscal year.

In related news, Director Robert Hershberg sold 1,500 shares of NanoString Technologies stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $69.33, for a total value of $103,995.00. Following the completion of the transaction, the director now directly owns 3,390 shares in the company, valued at approximately $235,028.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk Malloy sold 2,500 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $40.96, for a total transaction of $102,400.00. Following the completion of the sale, the director now directly owns 1,990 shares of the company’s stock, valued at $81,510.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,843 shares of company stock valued at $1,265,821 over the last ninety days. Insiders own 4.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in NSTG. Great West Life Assurance Co. Can boosted its position in shares of NanoString Technologies by 6,163.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 198,000 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 194,839 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in NanoString Technologies in the second quarter valued at about $51,000. Nisa Investment Advisors LLC bought a new stake in NanoString Technologies in the third quarter valued at approximately $54,000. Point72 Asset Management L.P. acquired a new stake in shares of NanoString Technologies in the 3rd quarter valued at $161,000. Finally, Principal Financial Group Inc. bought a new position in shares of NanoString Technologies in the 2nd quarter worth about $224,000. Institutional investors own 78.22% of the company’s stock.

NanoString Technologies Company Profile (NASDAQ:NSTG)

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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