Metropolitan Life Insurance Co. NY increased its position in NanoString Technologies Inc (NASDAQ:NSTG) by 430.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,893 shares of the biotechnology company’s stock after purchasing an additional 7,218 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in NanoString Technologies were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of NanoString Technologies by 28.4% in the third quarter. Legal & General Group Plc now owns 3,800 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 840 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in NanoString Technologies in the fourth quarter valued at $151,000. AQR Capital Management LLC acquired a new stake in NanoString Technologies in the third quarter valued at $294,000. MetLife Investment Advisors LLC raised its holdings in NanoString Technologies by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 17,579 shares of the biotechnology company’s stock valued at $313,000 after acquiring an additional 6,249 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in NanoString Technologies by 21.5% in the third quarter. Alliancebernstein L.P. now owns 19,800 shares of the biotechnology company’s stock valued at $353,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
NSTG has been the topic of several recent analyst reports. BidaskClub raised shares of NanoString Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $35.00 price target on shares of NanoString Technologies in a report on Friday, March 8th. ValuEngine raised shares of NanoString Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research cut shares of NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. NanoString Technologies has an average rating of “Buy” and an average target price of $22.80.
NSTG opened at $23.71 on Friday. The firm has a market capitalization of $737.03 million, a P/E ratio of -8.53 and a beta of 1.30. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.75 and a current ratio of 3.05. NanoString Technologies Inc has a 12-month low of $8.97 and a 12-month high of $31.14.
NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.18). The company had revenue of $30.03 million during the quarter. NanoString Technologies had a negative net margin of 72.52% and a negative return on equity of 252.59%. As a group, equities research analysts anticipate that NanoString Technologies Inc will post -2.36 EPS for the current fiscal 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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