Kirk Malloy Sells 1,000 Shares of NanoString Technologies Inc (NASDAQ:NSTG) Stock

NanoString Technologies Inc (NASDAQ:NSTG) Director Kirk Malloy sold 1,000 shares of NanoString Technologies stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $25.05, for a total transaction of $25,050.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $25,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ:NSTG traded down $0.14 during midday trading on Wednesday, reaching $26.52. 572,763 shares of the company were exchanged, compared to its average volume of 524,313. NanoString Technologies Inc has a fifty-two week low of $13.26 and a fifty-two week high of $34.78. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.76 and a current ratio of 5.21. The stock’s fifty day moving average price is $29.19. The firm has a market cap of $883.97 million, a price-to-earnings ratio of -9.49 and a beta of 1.08.

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

A number of hedge funds have recently modified their holdings of NSTG. Nikko Asset Management Americas Inc. increased its stake in NanoString Technologies by 418.9% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,488,261 shares of the biotechnology company’s stock valued at $75,519,000 after buying an additional 2,008,747 shares during the last quarter. Cadian Capital Management LP increased its stake in NanoString Technologies by 170.3% in the 2nd quarter. Cadian Capital Management LP now owns 1,527,209 shares of the biotechnology company’s stock valued at $46,351,000 after buying an additional 962,209 shares during the last quarter. BlackRock Inc. increased its stake in NanoString Technologies by 38.4% in the 2nd quarter. BlackRock Inc. now owns 3,094,485 shares of the biotechnology company’s stock valued at $93,918,000 after buying an additional 858,400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in NanoString Technologies by 101.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock valued at $28,718,000 after buying an additional 477,313 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in NanoString Technologies by 59,700.7% in the 1st quarter. Federated Investors Inc. PA now owns 360,000 shares of the biotechnology company’s stock valued at $8,615,000 after buying an additional 359,398 shares during the last quarter.

NSTG has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. BidaskClub cut shares of NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.60.

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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