NanoString Technologies Inc. (NSTG) Sees Unusually-High Trading Volume
NanoString Technologies Inc. (NASDAQ:NSTG) shares saw unusually-strong trading volume on Friday . Approximately 189,748 shares changed hands during mid-day trading, an increase of 93% from the previous session’s volume of 98,534 shares.The stock last traded at $16.50 and had previously closed at $16.72.
A number of equities research analysts recently commented on NSTG shares. Robert W. Baird reissued a “buy” rating on shares of NanoString Technologies in a research note on Sunday, May 8th. Morgan Stanley reissued a “buy” rating on shares of NanoString Technologies in a research note on Sunday, May 8th. Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, May 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $20.00 price target on shares of NanoString Technologies in a research note on Wednesday, April 20th. Seven analysts have rated the stock with a buy rating, NanoString Technologies currently has an average rating of “Buy” and a consensus price target of $18.60.
The stock’s market cap is $326.83 million. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $14.30.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.11. The company had revenue of $22.60 million for the quarter, compared to the consensus estimate of $19.62 million. During the same quarter in the prior year, the firm earned ($0.66) earnings per share. NanoString Technologies’s revenue for the quarter was up 72.5% compared to the same quarter last year. Equities analysts predict that NanoString Technologies Inc. will post ($2.28) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in NanoString Technologies stock. Morgan Stanley increased its position in shares of NanoString Technologies Inc. (NASDAQ:NSTG) by 21.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,585,122 shares of the company’s stock after buying an additional 284,101 shares during the period. Morgan Stanley owned about 8.13% of NanoString Technologies worth $23,317,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.