NanoString Technologies (NASDAQ:NSTG) Rating Increased to Buy at BidaskClub

NanoString Technologies (NASDAQ:NSTG) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, BidAskClub reports.

Separately, Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Two 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 target price of $24.60.

NSTG opened at $31.78 on Friday. NanoString Technologies has a 12 month low of $11.12 and a 12 month 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.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). NanoString Technologies had a negative net margin of 71.94% and a negative return on equity of 166.73%. The business had revenue of $27.69 million during the quarter, compared to analyst estimates of $25.42 million. As a group, research analysts expect that NanoString Technologies will post -2.21 earnings per share for the current fiscal year.

In other NanoString Technologies news, insider R Bradley Gray sold 50,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.59, for a total transaction of $1,329,500.00. Following the completion of the transaction, the insider now directly owns 36,611 shares of the company’s stock, valued at approximately $973,486.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mary Tedd Allen sold 64,333 shares of the 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 transaction, the senior vice president now directly owns 55,433 shares of the company’s stock, valued at $1,657,446.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,287 shares of company stock valued at $3,457,574. 5.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC bought a new position in NanoString Technologies during the 2nd quarter valued at $74,000. Pearl River Capital LLC bought a new position in NanoString Technologies during the 1st quarter valued at $76,000. First Mercantile Trust Co. bought a new position in NanoString Technologies during the 1st quarter valued at $122,000. BNP Paribas Arbitrage SA boosted its stake in NanoString Technologies by 67,950.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,444 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 5,436 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in NanoString Technologies by 430.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock valued at $132,000 after purchasing an additional 7,218 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

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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