Insider Selling: NanoString Technologies Inc (NSTG) Major Shareholder Sells 2,000,000 Shares of Stock

NanoString Technologies Inc (NASDAQ:NSTG) major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of NSTG traded down $0.79 during mid-day trading on Friday, hitting $23.44. The company’s stock had a trading volume of 346,596 shares, compared to its average volume of 506,007. NanoString Technologies Inc has a 52-week low of $6.30 and a 52-week high of $31.14. The stock has a market capitalization of $742.50 million, a PE ratio of -8.42 and a beta of 1.32. 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 (NASDAQ:NSTG) last announced its quarterly 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 during the quarter. Equities research analysts forecast that NanoString Technologies Inc will post -2.43 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake 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 purchasing an additional 840 shares in the last quarter. Alliancebernstein L.P. increased its stake in NanoString Technologies by 21.5% during the 3rd quarter. Alliancebernstein L.P. now owns 19,800 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 3,500 shares in the last quarter. Teachers Advisors LLC increased its stake in NanoString Technologies by 9.3% during the 3rd quarter. Teachers Advisors LLC now owns 51,574 shares of the biotechnology company’s stock valued at $920,000 after purchasing an additional 4,399 shares in the last quarter. Cpwm LLC increased its stake in NanoString Technologies by 27.1% during the 3rd quarter. Cpwm LLC now owns 23,898 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 5,098 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in NanoString Technologies by 55.2% during 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 in the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.

Several equities research analysts have recently weighed in on NSTG shares. BidaskClub raised shares of NanoString Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. ValuEngine cut shares of NanoString Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th. Zacks Investment Research cut shares of NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $35.00 price target on shares of NanoString Technologies in a research report on Friday, March 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.80.

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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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Insider Buying and Selling by Quarter for NanoString Technologies (NASDAQ:NSTG)

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