Millennium Management LLC grew its stake in NanoString Technologies Inc (NASDAQ:NSTG) by 51.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 353,432 shares of the biotechnology company’s stock after buying an additional 119,428 shares during the quarter. Millennium Management LLC’s holdings in NanoString Technologies were worth $5,241,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of NSTG. Point72 Asset Management L.P. acquired a new position in shares of NanoString Technologies in the 3rd quarter valued at about $7,132,000. BlackRock Inc. lifted its holdings in shares of NanoString Technologies by 19.4% in the 3rd quarter. BlackRock Inc. now owns 2,211,521 shares of the biotechnology company’s stock valued at $39,432,000 after buying an additional 358,991 shares during the period. Morgan Stanley raised its holdings in NanoString Technologies by 16.6% in the 3rd quarter. Morgan Stanley now owns 1,807,118 shares of the biotechnology company’s stock worth $32,221,000 after purchasing an additional 257,703 shares during the period. Neuberger Berman Group LLC raised its holdings in NanoString Technologies by 22.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,232,787 shares of the biotechnology company’s stock worth $21,980,000 after purchasing an additional 229,486 shares during the period. Finally, Marshall Wace LLP acquired a new position in NanoString Technologies in the 3rd quarter worth about $3,430,000. 87.94% of the stock is owned by institutional investors and hedge funds.
In other NanoString Technologies news, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $21.62, for a total transaction of $43,240,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mary Tedd Allen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $21.34, for a total value of $320,100.00. Following the transaction, the senior vice president now directly owns 28,789 shares of the company’s stock, valued at approximately $614,357.26. The disclosure for this sale can be found here. Insiders sold a total of 2,103,141 shares of company stock valued at $44,216,451 in the last ninety days. 20.90% of the stock is currently owned by insiders.
NASDAQ NSTG opened at $25.98 on Monday. The stock has a market capitalization of $813.81 million, a P/E ratio of -9.35 and a beta of 1.30. NanoString Technologies Inc has a twelve month low of $8.97 and a twelve month high of $31.14. The company has a quick ratio of 2.75, a current ratio of 3.05 and a debt-to-equity ratio of 1.58.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.18). The business had revenue of $30.03 million during the quarter. NanoString Technologies had a negative return on equity of 252.59% and a negative net margin of 72.52%. As a group, equities research analysts expect that NanoString Technologies Inc will post -2.36 EPS for the current year.
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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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