NanoString Technologies Inc. (NSTG) Sees Unusually-High Trading Volume
Shares of NanoString Technologies Inc. (NASDAQ:NSTG) saw strong trading volume on Thursday . 208,385 shares changed hands during trading, an increase of 50% from the previous session’s volume of 138,710 shares.The stock last traded at $12.99 and had previously closed at $13.01.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded 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. Robert W. Baird restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. BTIG Research restated a “buy” rating and set a $20.00 price objective on shares of NanoString Technologies in a report on Wednesday, April 20th. Finally, Janney Montgomery Scott assumed coverage on NanoString Technologies in a report on Tuesday, March 15th. They set a “buy” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. NanoString Technologies currently has a consensus rating of “Buy” and a consensus target price of $19.20.
The company’s market cap is $256.84 million. The stock’s 50-day moving average is $13.38 and its 200 day moving average is $14.30.
NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Thursday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.69) by $0.05. The company earned $14.70 million during the quarter, compared to the consensus estimate of $14.92 million. NanoString Technologies’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.81) EPS. Equities analysts forecast that NanoString Technologies Inc. will post ($2.42) EPS for the current year.
An institutional investor recently raised its position in NanoString Technologies stock. EAM Investors LLC raised its stake in NanoString Technologies Inc. (NASDAQ:NSTG) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 97,045 shares of the company’s stock after buying an additional 382 shares during the period. EAM Investors LLC owned 0.50% of NanoString Technologies worth $1,428,000 at the end of the most recent quarter.
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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