Mackay Shields LLC Buys Shares of 52,500 NanoString Technologies Inc (NASDAQ:NSTG)

Mackay Shields LLC acquired a new stake in shares of NanoString Technologies Inc (NASDAQ:NSTG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 52,500 shares of the biotechnology company’s stock, valued at approximately $779,000. Mackay Shields LLC owned about 0.17% of NanoString Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NSTG. Legal & General Group Plc raised its holdings in NanoString Technologies by 28.4% during the third quarter. Legal & General Group Plc now owns 3,800 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 840 shares in the last quarter. Alliancebernstein L.P. raised its holdings in NanoString Technologies by 21.5% during the third quarter. Alliancebernstein L.P. now owns 19,800 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 3,500 shares in the last quarter. Teachers Advisors LLC raised its holdings in NanoString Technologies by 9.3% during the third quarter. Teachers Advisors LLC now owns 51,574 shares of the biotechnology company’s stock valued at $920,000 after buying an additional 4,399 shares in the last quarter. Cpwm LLC raised its holdings in NanoString Technologies by 27.1% during the third quarter. Cpwm LLC now owns 23,898 shares of the biotechnology company’s stock valued at $426,000 after buying an additional 5,098 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in NanoString Technologies by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 17,579 shares of the biotechnology company’s stock valued at $313,000 after buying an additional 6,249 shares in the last quarter. 87.94% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of NanoString Technologies stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $21.62, for a total transaction of $43,240,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mary Tedd Allen sold 5,000 shares of NanoString Technologies stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $22.57, for a total value of $112,850.00. Following the sale, the senior vice president now directly owns 30,789 shares in the company, valued at $694,907.73. The disclosure for this sale can be found here. Insiders sold 2,088,141 shares of company stock worth $43,896,351 over the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Several research firms have weighed in on NSTG. BidaskClub lowered NanoString Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $35.00 target price on shares of NanoString Technologies in a report on Friday, March 8th. Finally, ValuEngine upgraded NanoString Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $22.80.

Shares of NanoString Technologies stock traded down $0.13 during trading on Friday, reaching $23.71. The company’s stock had a trading volume of 337,481 shares, compared to its average volume of 571,314. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.75 and a current ratio of 3.05. The firm has a market capitalization of $737.03 million, a PE ratio of -8.53 and a beta of 1.30. NanoString Technologies Inc has a one year low of $8.97 and a one year high of $31.14.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.18). The business had revenue of $30.03 million during the quarter. NanoString Technologies had a negative return on equity of 252.59% and a negative net margin of 72.52%. Research analysts forecast that NanoString Technologies Inc will post -2.36 earnings per share for the current year.

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NanoString Technologies Profile

NanoString Technologies, Inc engages in the provision of life science tools for translational research and molecular diagnostic products. It offers analysis solutions, gene expression panels, protein assays, DNA Assaya, miRNA assays, vantage 3D assays, custom solutions, sample prep and nCounter consumables, and nDesign gateway.

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Institutional Ownership by Quarter for NanoString Technologies (NASDAQ:NSTG)

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