Wells Fargo & Company MN lifted its holdings in shares of NanoString Technologies Inc (NASDAQ:NSTG) by 210.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,166 shares of the biotechnology company’s stock after buying an additional 204,224 shares during the quarter. Wells Fargo & Company MN owned about 0.85% of NanoString Technologies worth $9,140,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of NanoString Technologies by 133.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock valued at $722,000 after buying an additional 13,610 shares in the last quarter. ARK Investment Management LLC raised its position in shares of NanoString Technologies by 7.3% during the 1st quarter. ARK Investment Management LLC now owns 3,476,526 shares of the biotechnology company’s stock valued at $83,193,000 after buying an additional 237,834 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of NanoString Technologies by 101.8% during 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 in the last quarter. Neuberger Berman Group LLC raised its position in shares of NanoString Technologies by 0.8% during the 1st quarter. Neuberger Berman Group LLC now owns 1,229,541 shares of the biotechnology company’s stock valued at $29,413,000 after buying an additional 9,662 shares in the last quarter. Finally, Swiss National Bank purchased a new stake in shares of NanoString Technologies during the 2nd quarter valued at $1,830,000. Institutional investors own 99.96% of the company’s stock.
Shares of NSTG stock traded up $0.05 during trading hours on Friday, reaching $22.04. The company had a trading volume of 44,653 shares, compared to its average volume of 497,469. The business has a fifty day moving average price of $26.48 and a 200-day moving average price of $26.80. NanoString Technologies Inc has a one year low of $13.26 and a one year high of $34.78. The firm has a market cap of $785.44 million, a PE ratio of -7.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.76 and a current ratio of 5.21.
NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $29.00 million. Equities research analysts forecast that NanoString Technologies Inc will post -2.35 EPS for the current year.
Several analysts have recently weighed in on NSTG shares. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut shares of 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 given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.25.
In related news, SVP David W. Ghesquiere sold 18,421 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $28.23, for a total transaction of $520,024.83. Following the completion of the sale, the senior vice president now directly owns 52,572 shares in the company, valued at $1,484,107.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Young sold 24,125 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $25.29, for a total transaction of $610,121.25. Following the sale, the director now owns 54,125 shares of the company’s stock, valued at $1,368,821.25. The disclosure for this sale can be found here. Insiders sold 183,504 shares of company stock valued at $4,971,528 over the last quarter. Company insiders own 5.10% of the company’s stock.
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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