NanoString Technologies Inc. (NSTG) Trading Up 1.8%
NanoString Technologies Inc. (NASDAQ:NSTG) was up 1.8% on Tuesday . The company traded as high as $13.05 and last traded at $13.01, with a volume of 147,689 shares traded. The stock had previously closed at $12.78.
A number of equities research analysts recently weighed in on NSTG shares. Janney Montgomery Scott started coverage on NanoString Technologies in a 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 report on Sunday, April 3rd. Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Morgan Stanley restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. Finally, Robert W. Baird restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.20.
The company’s market cap is $257.23 million. The company’s 50 day moving average price is $13.40 and its 200 day moving average price is $14.31.
NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Thursday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.69) by $0.05. During the same quarter in the prior year, the company earned ($0.81) earnings per share. The business had revenue of $14.70 million for the quarter, compared to analysts’ expectations of $14.92 million. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, equities analysts forecast that NanoString Technologies Inc. will post ($2.42) earnings per share for the current year.
An institutional investor recently raised its position in NanoString Technologies stock. Morgan Stanley raised its position in 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 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.