NanoString Technologies (NSTG) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of NanoString Technologies (NASDAQ:NSTG) from a buy rating to a hold rating in a report published on Thursday, April 18th, BidAskClub reports.

Several other equities analysts have also recently commented on NSTG. Zacks Investment Research raised shares of NanoString Technologies from a sell rating to a hold rating in a research note on Saturday, April 13th. ValuEngine raised shares of NanoString Technologies from a buy rating to a strong-buy rating in a research note on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a $35.00 price target on shares of NanoString Technologies in a research note on Friday, March 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. NanoString Technologies has an average rating of Buy and an average price target of $25.00.

NanoString Technologies stock traded up $1.98 during midday trading on Thursday, hitting $28.99. 742,248 shares of the stock were exchanged, compared to its average volume of 360,793. The stock has a market cap of $946.62 million, a PE ratio of -10.43 and a beta of 1.31. 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 has a 52-week low of $10.27 and a 52-week high of $31.14.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.04). The business had revenue of $27.69 million during the quarter, compared to the consensus estimate of $25.42 million. NanoString Technologies had a negative net margin of 71.94% and a negative return on equity of 246.30%. As a group, analysts predict that NanoString Technologies will post -2.36 EPS for the current fiscal year.

In other news, SVP Mary Tedd Allen sold 2,941 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $25.91, for a total value of $76,201.31. Following the completion of the sale, the senior vice president now owns 24,996 shares of the company’s stock, valued at approximately $647,646.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 2,063,141 shares of company stock valued at $43,337,901 in the last ninety days. 20.90% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in NanoString Technologies by 28.4% during the 3rd 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 during the last quarter. Pearl River Capital LLC bought a new stake in NanoString Technologies during the 1st quarter valued at $76,000. First Mercantile Trust Co. bought a new stake in NanoString Technologies during the 1st quarter valued at $122,000. BNP Paribas Arbitrage SA raised its holdings in NanoString Technologies by 67,950.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,444 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 5,436 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in NanoString Technologies by 430.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock valued at $132,000 after buying an additional 7,218 shares during the last quarter. 79.90% of the stock is owned by institutional investors.

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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