NanoString Technologies Inc. (NSTG) Shares Down 3.7%
NanoString Technologies Inc. (NASDAQ:NSTG) fell 3.7% during mid-day trading on Thursday . The stock traded as low as $13.27 and last traded at $13.44, with a volume of 63,913 shares changing hands. The stock had previously closed at $13.96.
Several equities research analysts have recently commented on NSTG shares. 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. Zacks Investment Research upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday, May 4th. Finally, BTIG Research restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, April 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.20.
The stock’s market capitalization is $265.74 million. The company has a 50-day moving average of $13.36 and a 200-day moving average of $14.27.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Thursday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates 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. NanoString Technologies’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.81) earnings per share. Equities research analysts forecast that NanoString Technologies Inc. will post ($2.42) earnings per share for the current year.
A hedge fund recently raised its stake in NanoString Technologies stock. Morgan Stanley boosted its position in shares of NanoString Technologies Inc. (NASDAQ:NSTG) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the SEC.
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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