NanoString Technologies (NASDAQ:NSTG) Downgraded by Zacks Investment Research to Sell

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Zacks Investment Research cut shares of NanoString Technologies (NASDAQ:NSTG) from a hold rating to a sell rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “

Separately, BidaskClub lowered NanoString Technologies from a hold rating to a sell rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. NanoString Technologies currently has an average rating of Hold and a consensus price target of $26.25.

Shares of NASDAQ NSTG opened at $21.85 on Friday. The firm has a market cap of $779.06 million, a price-to-earnings ratio of -7.86 and a beta of 1.22. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27. NanoString Technologies has a 52-week low of $13.26 and a 52-week high of $34.78. The business’s 50 day moving average is $26.29 and its two-hundred day moving average is $26.79.

NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.02). NanoString Technologies had a negative net margin of 68.16% and a negative return on equity of 118.03%. The firm had revenue of $30.35 million during the quarter, compared to analysts’ expectations of $29.00 million. Analysts anticipate that NanoString Technologies will post -2.35 EPS for the current fiscal year.

In other news, CEO R Bradley Gray sold 40,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $24.84, for a total transaction of $993,600.00. Following the sale, the chief executive officer now owns 89,905 shares of the company’s stock, valued at $2,233,240.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mary Tedd Allen sold 64,333 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $29.90, for a total value of $1,923,556.70. Following the sale, the senior vice president now directly owns 55,433 shares in the company, valued at approximately $1,657,446.70. The disclosure for this sale can be found here. Insiders have sold 185,211 shares of company stock worth $5,008,655 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of NSTG. BNP Paribas Arbitrage SA increased its position in shares of NanoString Technologies by 67,950.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,444 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 5,436 shares during the period. SG Americas Securities LLC purchased a new stake in shares of NanoString Technologies during the first quarter worth $162,000. Rhumbline Advisers increased its position in shares of NanoString Technologies by 2.4% during the first quarter. Rhumbline Advisers now owns 33,001 shares of the biotechnology company’s stock worth $790,000 after acquiring an additional 781 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of NanoString Technologies during the first quarter worth $122,000. Finally, Spark Investment Management LLC increased its position in shares of NanoString Technologies by 10.0% during the first quarter. Spark Investment Management LLC now owns 269,400 shares of the biotechnology company’s stock worth $6,446,000 after acquiring an additional 24,400 shares during the period. 99.96% of the stock is currently owned by institutional investors and hedge funds.

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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