Essex Investment Management Co. LLC lowered its position in shares of NanoString Technologies Inc. (NASDAQ:NSTG) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,027 shares of the company’s stock after selling 418 shares during the period. Essex Investment Management Co. LLC’s holdings in NanoString Technologies were worth $479,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Strs Ohio increased its position in NanoString Technologies by 8.5% in the second quarter. Strs Ohio now owns 31,900 shares of the company’s stock worth $401,000 after buying an additional 2,500 shares in the last quarter. Geode Capital Management LLC increased its position in NanoString Technologies by 11.7% in the first quarter. Geode Capital Management LLC now owns 80,546 shares of the company’s stock worth $1,225,000 after buying an additional 8,405 shares in the last quarter. Altrinsic Global Advisors LLC increased its position in NanoString Technologies by 5.8% in the first quarter. Altrinsic Global Advisors LLC now owns 229,211 shares of the company’s stock worth $3,489,000 after buying an additional 12,500 shares in the last quarter. State Street Corp increased its position in NanoString Technologies by 10.8% in the first quarter. State Street Corp now owns 180,483 shares of the company’s stock worth $2,749,000 after buying an additional 17,548 shares in the last quarter. Finally, Harbourvest Partners LLC purchased a new position in NanoString Technologies during the first quarter worth approximately $426,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.
Shares of NanoString Technologies Inc. (NASDAQ:NSTG) traded up 1.73% during mid-day trading on Thursday, reaching $21.11. The company’s stock had a trading volume of 348,174 shares. The company has a 50 day moving average of $17.70 and a 200-day moving average of $15.35. The firm’s market capitalization is $418.72 million. NanoString Technologies Inc. has a 12 month low of $11.30 and a 12 month high of $21.23.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.11. The business had revenue of $22.60 million for the quarter, compared to the consensus estimate of $19.62 million. NanoString Technologies had a negative return on equity of 310.30% and a negative net margin of 58.00%. NanoString Technologies’s revenue was up 72.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.66) EPS. Equities research analysts forecast that NanoString Technologies Inc. will post ($2.24) EPS for the current year.
NSTG has been the topic of several recent research reports. BTIG Research reissued a “buy” rating and issued a $20.00 price target on shares of NanoString Technologies in a report on Friday, August 5th. Zacks Investment Research downgraded NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. NanoString Technologies has an average rating of “Buy” and a consensus target price of $18.50.
In other news, Director Charles P. Waite, Jr. sold 257,698 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $16.55, for a total value of $4,264,901.90. Following the transaction, the director now directly owns 1,707 shares of the company’s stock, valued at approximately $28,250.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Wayne Burns sold 3,961 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $16.50, for a total value of $65,356.50. Following the completion of the transaction, the senior vice president now directly owns 59,704 shares in the company, valued at $985,116. The disclosure for this sale can be found here. 33.30% of the stock is owned by insiders.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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