NanoString Technologies Inc. (NSTG) Sees Large Volume Increase
NanoString Technologies Inc. (NASDAQ:NSTG) shares saw unusually-strong trading volume on Friday . Approximately 189,748 shares traded 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 weighed in on NSTG shares. BTIG Research restated a “buy” rating and issued a $20.00 price target on shares of NanoString Technologies in a report on Wednesday, April 20th. Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Robert W. Baird restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. Finally, Morgan Stanley restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. Six investment analysts have rated the stock with a buy rating, NanoString Technologies has an average rating of “Buy” and a consensus price target of $18.50.
The stock’s 50 day moving average price is $13.48 and its 200-day moving average price is $14.30. The company’s market cap is $327.33 million.
NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.11. The business earned $22.60 million during the quarter, compared to the consensus estimate of $19.62 million. The business’s revenue was up 72.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.66) EPS. On average, equities research analysts forecast that NanoString Technologies Inc. will post ($2.28) earnings per share for the current year.
An institutional investor recently raised its position in NanoString Technologies stock. Morgan Stanley raised 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 fund 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 at the end of the most recent reporting period.
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.
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