NanoString Technologies Inc. (NSTG) Trading Up 5.8%
NanoString Technologies Inc. (NASDAQ:NSTG)’s share price was up 5.8% during mid-day trading on Monday . The stock traded as high as $13.78 and last traded at $13.74, with a volume of 51,516 shares changing hands. The stock had previously closed at $12.99.
Several equities analysts recently issued reports on NSTG shares. Janney Montgomery Scott started coverage on NanoString Technologies in a research report on Tuesday, March 15th. They issued a “buy” rating and a $21.00 price target on the stock. BTIG Research restated a “buy” rating on shares of NanoString Technologies in a research report on Sunday, April 3rd. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, May 4th. Robert W. Baird restated a “buy” rating on shares of NanoString Technologies in a research report on Sunday, May 8th. Finally, Morgan Stanley restated a “buy” rating on shares of NanoString Technologies in a research report on Sunday, May 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.20.
The firm’s 50 day moving average price is $13.37 and its 200 day moving average price is $14.29. The firm’s market cap is $268.90 million.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.69) by $0.05. The firm had revenue of $14.70 million for the quarter, compared to analyst estimates of $14.92 million. The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.81) earnings per share. On average, equities research analysts forecast that NanoString Technologies Inc. will post ($2.42) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in NanoString Technologies stock. Morgan Stanley increased its stake in NanoString Technologies Inc. (NASDAQ:NSTG) by 21.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,585,122 shares of the company’s stock after buying an additional 284,101 shares during the period. Morgan Stanley owned 8.13% of NanoString Technologies worth $23,317,000 at the end of the most recent reporting period.
NanoString Technologies, Inc is engaged in detection, identification and quantification of individual target molecules in a biological sample by attaching a color coded fluorescent reporter to each target molecule of interest. The Company markets its nCounter Analysis System, consisting of instruments and consumables, including its Prosigna Breast Cancer Assay, to academic, government and biopharmaceutical and clinical laboratory customers.
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