NanoString Technologies (NASDAQ:NSTG) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of NanoString Technologies (NASDAQ:NSTG) from a hold rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

Separately, Zacks Investment Research upgraded General Moly from a sell rating to a hold rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $24.60.

Shares of NSTG opened at $31.78 on Friday. NanoString Technologies has a 52-week low of $11.12 and a 52-week high of $32.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 4.48 and a current ratio of 4.83. The firm has a 50 day simple moving average of $28.13. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.43 and a beta of 1.14.

NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.04). The firm had revenue of $27.69 million for 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 166.73%. As a group, equities research analysts expect that NanoString Technologies will post -2.21 EPS for the current fiscal year.

In related news, SVP David W. Ghesquiere sold 6,954 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $29.41, for a total transaction of $204,517.14. Following the completion of the sale, the senior vice president now owns 44,868 shares in the company, valued at $1,319,567.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R Bradley Gray sold 50,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.59, for a total value of $1,329,500.00. Following the sale, the insider now owns 36,611 shares of the company’s stock, valued at approximately $973,486.49. The disclosure for this sale can be found here. Insiders have sold 121,287 shares of company stock valued at $3,457,574 in the last quarter. 5.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC bought a new stake in NanoString Technologies during the second quarter worth $74,000. Pearl River Capital LLC bought a new stake in NanoString Technologies during the first quarter worth $76,000. First Mercantile Trust Co. purchased a new position in NanoString Technologies in the first quarter worth $122,000. BNP Paribas Arbitrage SA boosted its position in NanoString Technologies by 67,950.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,444 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 5,436 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in NanoString Technologies by 430.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock worth $132,000 after purchasing an additional 7,218 shares during the last quarter. Institutional investors and hedge funds own 93.89% 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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