NanoString Technologies, Inc. (NASDAQ:NSTG) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.31 and last traded at $7.32, with a volume of 73122 shares trading hands. The stock had previously closed at $7.51.
A number of research analysts recently issued reports on NSTG shares. Robert W. Baird reissued a “buy” rating and set a $14.00 price target on shares of NanoString Technologies in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Thursday, August 10th. Cowen reissued a “buy” rating and set a $20.00 price target on shares of NanoString Technologies in a research report on Thursday, September 28th. Finally, Janney Montgomery Scott cut shares of NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. NanoString Technologies presently has a consensus rating of “Hold” and a consensus price target of $17.25.
The company has a debt-to-equity ratio of 1.08, a current ratio of 3.35 and a quick ratio of 2.89.
A number of institutional investors have recently modified their holdings of NSTG. Neuberger Berman Group LLC purchased a new position in NanoString Technologies in the third quarter worth about $9,677,000. Russell Investments Group Ltd. raised its holdings in NanoString Technologies by 1,452.0% in the second quarter. Russell Investments Group Ltd. now owns 538,792 shares of the biotechnology company’s stock worth $8,910,000 after buying an additional 504,075 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in NanoString Technologies in the second quarter worth about $4,200,000. Vanguard Group Inc. raised its holdings in NanoString Technologies by 27.9% in the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock worth $12,449,000 after buying an additional 164,141 shares during the last quarter. Finally, Algert Global LLC purchased a new position in NanoString Technologies in the third quarter worth about $2,276,000. 92.72% of the stock is owned by institutional investors and hedge funds.
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NanoString Technologies Company Profile
NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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