NanoString Technologies (NASDAQ:NSTG) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a hold rating to a sell rating in a research report report published on Friday 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 NanoString Technologies from a hold rating to a sell rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NanoString Technologies has an average rating of Hold and a consensus price target of $26.25.

NSTG opened at $21.99 on Friday. The company has a market cap of $779.41 million, a PE ratio of -7.91 and a beta of 1.22. The business has a 50 day moving average price of $25.66 and a two-hundred day moving average price of $26.76. NanoString Technologies has a 52 week low of $13.26 and a 52 week high of $34.78. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27.

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

In other NanoString Technologies news, Director William Young sold 24,125 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $25.29, for a total value of $610,121.25. Following the transaction, the director now owns 54,125 shares of the company’s stock, valued at $1,368,821.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mary Tedd Allen sold 64,333 shares of the company’s stock in a transaction on Monday, July 1st. The shares were 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 directly owns 55,433 shares in the company, valued at approximately $1,657,446.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,211 shares of company stock worth $5,008,655. Corporate insiders own 5.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in NanoString Technologies by 133.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock worth $722,000 after purchasing an additional 13,610 shares in the last quarter. ARK Investment Management LLC increased its stake in NanoString Technologies by 7.3% in the first quarter. ARK Investment Management LLC now owns 3,476,526 shares of the biotechnology company’s stock valued at $83,193,000 after acquiring an additional 237,834 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in NanoString Technologies by 101.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock valued at $28,718,000 after acquiring an additional 477,313 shares during the period. Wells Fargo & Company MN increased its stake in NanoString Technologies by 210.7% in the second quarter. Wells Fargo & Company MN now owns 301,166 shares of the biotechnology company’s stock valued at $9,140,000 after acquiring an additional 204,224 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in NanoString Technologies by 0.8% during the first quarter. Neuberger Berman Group LLC now owns 1,229,541 shares of the biotechnology company’s stock worth $29,413,000 after buying an additional 9,662 shares during the last quarter. Institutional investors and hedge funds own 99.85% 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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