NanoString Technologies (NASDAQ:NSTG) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of NanoString Technologies (NASDAQ:NSTG) from a sell rating to a hold rating in a research report report published on Saturday morning, Zacks.com reports.

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. “

Separately, BidaskClub lowered shares of NanoString Technologies from a hold rating to a sell rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $24.60.

NanoString Technologies stock opened at $22.16 on Friday. The business’s 50-day moving average price is $26.67 and its 200 day moving average price is $26.80. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27. The firm has a market cap of $792.08 million, a price-to-earnings ratio of -7.97 and a beta of 1.22. NanoString Technologies has a 52 week low of $13.26 and a 52 week high of $34.78.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.02). NanoString Technologies had a negative net margin of 68.16% and a negative return on equity of 118.03%. The company had revenue of $30.35 million during the quarter, compared to analyst estimates of $29.00 million. Equities analysts expect that NanoString Technologies will post -2.35 EPS for the current year.

In related news, SVP Mary Tedd Allen sold 64,333 shares of NanoString Technologies stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.90, for a total value of $1,923,556.70. Following the completion of the transaction, the senior vice president now owns 55,433 shares in the company, valued at approximately $1,657,446.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Bradley Gray sold 40,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $24.84, for a total value of $993,600.00. Following the completion of the transaction, the chief executive officer now directly owns 89,905 shares of the company’s stock, valued at approximately $2,233,240.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,504 shares of company stock valued at $4,971,528. Insiders own 5.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Harbourvest Partners LLC acquired a new stake in NanoString Technologies in the second quarter valued at approximately $1,692,000. Rehmann Capital Advisory Group raised its stake in shares of NanoString Technologies by 184.2% during the 2nd quarter. Rehmann Capital Advisory Group now owns 41,931 shares of the biotechnology company’s stock worth $1,273,000 after buying an additional 27,175 shares during the period. United Services Automobile Association acquired a new position in shares of NanoString Technologies during the 2nd quarter worth approximately $228,000. River & Mercantile Asset Management LLP acquired a new position in shares of NanoString Technologies during the 2nd quarter worth approximately $1,604,000. Finally, Nuveen Asset Management LLC purchased a new position in shares of NanoString Technologies during the 2nd quarter valued at approximately $18,453,000. Institutional investors own 99.96% of the company’s stock.

NanoString Technologies Company Profile

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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