NanoString Technologies (NASDAQ:NSTG) Reaches New 1-Year High at $76.00

NanoString Technologies, Inc. (NASDAQ:NSTG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $76.00 and last traded at $75.81, with a volume of 6187 shares changing hands. The stock had previously closed at $71.72.

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on NanoString Technologies from $44.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, December 3rd. Robert W. Baird raised their price objective on NanoString Technologies from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday. Cowen upgraded shares of NanoString Technologies from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, January 6th. Zacks Investment Research upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NanoString Technologies from $45.00 to $60.00 in a report on Wednesday, December 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.29.

The company has a fifty day simple moving average of $64.55 and a two-hundred day simple moving average of $45.66. The stock has a market capitalization of $3.44 billion, a P/E ratio of -45.88 and a beta of 1.72. The company has a current ratio of 8.94, a quick ratio of 8.12 and a debt-to-equity ratio of 1.66.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Monday, November 9th. The biotechnology company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.05. The firm had revenue of $31.85 million for the quarter, compared to analysts’ expectations of $30.13 million. NanoString Technologies had a negative return on equity of 68.96% and a negative net margin of 53.47%. As a group, analysts forecast that NanoString Technologies, Inc. will post -2.77 earnings per share for the current fiscal year.

In other news, Director Kirk Malloy sold 2,500 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $40.96, for a total value of $102,400.00. Following the completion of the transaction, the director now owns 1,990 shares of the company’s stock, valued at approximately $81,510.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Hershberg sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $69.33, for a total transaction of $103,995.00. Following the sale, the director now directly owns 3,390 shares of the company’s stock, valued at approximately $235,028.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,843 shares of company stock worth $1,265,821. Company insiders own 4.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of NanoString Technologies by 87.9% during the 2nd quarter. FMR LLC now owns 5,631,792 shares of the biotechnology company’s stock worth $165,293,000 after acquiring an additional 2,634,024 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of NanoString Technologies by 9.7% in the 3rd quarter. ARK Investment Management LLC now owns 3,822,106 shares of the biotechnology company’s stock valued at $170,848,000 after buying an additional 337,295 shares during the period. BlackRock Inc. increased its holdings in shares of NanoString Technologies by 1.5% in the third quarter. BlackRock Inc. now owns 3,604,969 shares of the biotechnology company’s stock valued at $161,143,000 after purchasing an additional 52,455 shares during the period. Vanguard Group Inc. lifted its position in shares of NanoString Technologies by 9.8% in the second quarter. Vanguard Group Inc. now owns 1,977,018 shares of the biotechnology company’s stock valued at $58,026,000 after acquiring an additional 177,194 shares in the last quarter. Finally, Polar Capital LLP lifted its position in NanoString Technologies by 70.0% during the third quarter. Polar Capital LLP now owns 850,000 shares of the biotechnology company’s stock worth $37,995,000 after buying an additional 350,000 shares during the period. 78.22% of the stock is currently owned by hedge funds and other institutional investors.

About NanoString Technologies (NASDAQ:NSTG)

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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