Several other research analysts have also recently weighed in on NSTG. Stifel Nicolaus reduced their price objective on NanoString Technologies from $38.00 to $35.00 and set a buy rating for the company in a research report on Thursday, April 2nd. ValuEngine raised NanoString Technologies from a hold rating to a buy rating in a research report on Tuesday, March 3rd. Robert W. Baird upped their price objective on NanoString Technologies from $29.00 to $34.00 and gave the stock an outperform rating in a research report on Monday, May 11th. UBS Group reduced their price objective on NanoString Technologies from $40.00 to $38.00 and set a buy rating for the company in a research report on Tuesday, April 28th. Finally, Zacks Investment Research cut NanoString Technologies from a hold rating to a sell rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $34.50.
NASDAQ:NSTG opened at $29.57 on Friday. NanoString Technologies has a 1 year low of $13.85 and a 1 year high of $36.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 8.95 and a quick ratio of 8.32. The stock has a 50-day moving average price of $31.09 and a two-hundred day moving average price of $29.10.
In related news, Director Kirk Malloy sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.61, for a total transaction of $25,610.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $25,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles P. Waite, Jr. sold 1,734 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $30.17, for a total value of $52,314.78. Following the transaction, the director now directly owns 1,734 shares of the company’s stock, valued at $52,314.78. The disclosure for this sale can be found here. Insiders have sold 12,097 shares of company stock valued at $382,716 over the last three months. Insiders own 5.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in NanoString Technologies by 2.3% in the first quarter. State Street Corp now owns 694,719 shares of the biotechnology company’s stock valued at $16,708,000 after buying an additional 15,363 shares during the period. Sandler Capital Management bought a new stake in NanoString Technologies in the first quarter valued at approximately $6,275,000. Advisor Group Holdings Inc. bought a new stake in NanoString Technologies in the first quarter valued at approximately $30,000. Orbimed Advisors LLC bought a new stake in NanoString Technologies in the first quarter valued at approximately $28,677,000. Finally, Caxton Associates LP bought a new stake in NanoString Technologies in the first quarter valued at approximately $235,000.
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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