NanoString Technologies (NASDAQ:NSTG) Reaches New 1-Year Low at $20.60

NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $20.60 and last traded at $21.45, with a volume of 5549 shares changing hands. The stock had previously closed at $21.08.

Several brokerages have recently commented on NSTG. Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Saturday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of NanoString Technologies from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. Cowen decreased their price objective on shares of NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Canaccord Genuity Group decreased their price objective on shares of NanoString Technologies from $50.00 to $37.00 in a research note on Wednesday, April 13th. Finally, StockNews.com assumed coverage on shares of NanoString Technologies in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $48.13.

The company has a debt-to-equity ratio of 1.27, a current ratio of 8.20 and a quick ratio of 7.60. The stock has a market cap of $991.03 million, a price-to-earnings ratio of -8.27 and a beta of 1.75. The business’s 50-day simple moving average is $33.01 and its two-hundred day simple moving average is $38.27.

NanoString Technologies (NASDAQ:NSTGGet Rating) last issued its earnings results on Tuesday, March 1st. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.09). NanoString Technologies had a negative net margin of 79.44% and a negative return on equity of 55.40%. The company had revenue of $42.46 million during the quarter, compared to analyst estimates of $41.90 million. During the same quarter in the prior year, the business earned ($0.53) EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Equities research analysts forecast that NanoString Technologies, Inc. will post -2.11 earnings per share for the current year.

In other news, CFO K Thomas Bailey sold 2,110 shares of NanoString Technologies stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $27.81, for a total transaction of $58,679.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Joseph M. Beechem sold 2,968 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $33.06, for a total transaction of $98,122.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,864 shares of company stock worth $1,054,146. 2.80% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in NanoString Technologies in the fourth quarter valued at $15,692,000. Walleye Capital LLC lifted its holdings in NanoString Technologies by 74.8% in the fourth quarter. Walleye Capital LLC now owns 14,647 shares of the biotechnology company’s stock valued at $619,000 after buying an additional 6,270 shares during the period. Allianz Asset Management GmbH lifted its holdings in NanoString Technologies by 5.3% in the fourth quarter. Allianz Asset Management GmbH now owns 84,875 shares of the biotechnology company’s stock valued at $3,584,000 after buying an additional 4,293 shares during the period. California State Teachers Retirement System lifted its holdings in NanoString Technologies by 2.8% in the fourth quarter. California State Teachers Retirement System now owns 63,232 shares of the biotechnology company’s stock valued at $2,670,000 after buying an additional 1,719 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in NanoString Technologies by 35.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 39,803 shares of the biotechnology company’s stock valued at $1,681,000 after buying an additional 10,340 shares during the period.

NanoString Technologies Company Profile (NASDAQ:NSTG)

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

Featured Articles

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.