NanoString Technologies Inc. (NSTG) Sees Unusually-High Trading Volume
Shares of NanoString Technologies Inc. (NASDAQ:NSTG) saw unusually-strong trading volume on Thursday . Approximately 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.
A number of equities research analysts recently weighed in on NSTG shares. Janney Montgomery Scott started coverage on NanoString Technologies in a research report on Tuesday, March 15th. They set a “buy” rating and a $21.00 price objective on the stock. BTIG Research reiterated 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 reiterated a “buy” rating on shares of NanoString Technologies in a research report on Sunday, May 8th. Finally, Morgan Stanley reiterated a “buy” rating on shares of NanoString Technologies in a research report on Sunday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $19.20.
The firm has a 50-day moving average price of $13.37 and a 200-day moving average price of $14.29. The stock’s market cap is $256.84 million.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.69) by $0.05. The business earned $14.70 million during the quarter, compared to analyst estimates of $14.92 million. During the same quarter last year, the firm earned ($0.81) EPS. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. On average, analysts anticipate 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 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 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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