According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
Other research analysts also recently issued research reports about the company. BidaskClub downgraded NanoString Technologies from a buy rating to a hold rating in a research note on Tuesday, December 18th. ValuEngine downgraded NanoString Technologies from a strong-buy rating to a buy rating in a research note on Tuesday, December 18th. Finally, JPMorgan Chase & Co. restated an overweight rating and set a $35.00 price target on shares of NanoString Technologies in a research note on Friday, March 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $22.80.
NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Thursday, March 7th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.18). NanoString Technologies had a negative return on equity of 252.59% and a negative net margin of 72.52%. The business had revenue of $30.03 million for the quarter. Equities analysts forecast that NanoString Technologies will post -2.36 EPS for the current year.
In related news, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the firm’s stock in a transaction that occurred on 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 at this link. Also, SVP Mary Tedd Allen sold 2,941 shares of NanoString Technologies stock in a transaction that occurred 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 transaction, the senior vice president now owns 24,996 shares in the company, valued at $647,646.36. The disclosure for this sale can be found here. Insiders have sold a total of 2,088,141 shares of company stock worth $43,896,351 in the last 90 days. 20.90% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc grew its stake in shares of NanoString Technologies by 28.4% in the 3rd 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 grew its stake in shares of NanoString Technologies by 430.9% in the 4th 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 purchased a new position in shares of NanoString Technologies in the 4th quarter valued at approximately $151,000. AQR Capital Management LLC purchased a new position in shares of NanoString Technologies in the 3rd quarter valued at approximately $294,000. Finally, MetLife Investment Advisors LLC grew its stake in shares of NanoString Technologies by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 17,579 shares of the biotechnology company’s stock valued at $313,000 after purchasing an additional 6,249 shares during the last quarter. Institutional investors own 87.94% of the company’s stock.
About NanoString Technologies
NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.
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