Rhenman & Partners Asset Management AB Takes $2.87 Million Position in NanoString Technologies Inc (NSTG)

Rhenman & Partners Asset Management AB bought a new position in shares of NanoString Technologies Inc (NASDAQ:NSTG) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 120,000 shares of the biotechnology company’s stock, valued at approximately $2,872,000. Rhenman & Partners Asset Management AB owned 0.39% of NanoString Technologies as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of NSTG. Legal & General Group Plc increased its stake 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 purchasing an additional 840 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in NanoString Technologies by 430.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock valued at $132,000 after purchasing an additional 7,218 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of NanoString Technologies during the fourth quarter worth about $151,000. AQR Capital Management LLC bought a new position in shares of NanoString Technologies during the third quarter worth about $294,000. Finally, MetLife Investment Advisors LLC grew its position in shares of NanoString Technologies by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 17,579 shares of the biotechnology company’s stock worth $313,000 after acquiring an additional 6,249 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Several research firms have recently commented on NSTG. BidaskClub upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $35.00 target price on shares of NanoString Technologies in a research note on Friday, March 8th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.80.

NanoString Technologies stock traded up $0.86 during trading hours on Friday, hitting $27.96. 267,731 shares of the company traded hands, compared to its average volume of 503,444. The stock has a market cap of $979.91 million, a price-to-earnings ratio of -10.06 and a beta of 1.31. The company has a current ratio of 3.05, a quick ratio of 2.75 and a debt-to-equity ratio of 1.58. NanoString Technologies Inc has a 1-year low of $9.26 and a 1-year high of $31.14.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 expect that NanoString Technologies Inc will post -2.36 earnings per share for the current fiscal year.

In other news, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $21.62, for a total transaction of $43,240,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mary Tedd Allen sold 2,941 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $25.91, for a total transaction of $76,201.31. Following the sale, the senior vice president now owns 24,996 shares in the company, valued at approximately $647,646.36. The disclosure for this sale can be found here. Insiders sold a total of 2,068,141 shares of company stock worth $43,450,751 in the last ninety days. Corporate insiders own 20.90% of the company’s stock.

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NanoString Technologies Company 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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