NanoString Technologies Inc. (NSTG) Sees Large Volume Increase
NanoString Technologies Inc. (NASDAQ:NSTG) saw strong trading volume on Thursday . 156,774 shares changed hands during trading, an increase of 38% from the previous session’s volume of 113,645 shares.The stock last traded at $16.60 and had previously closed at $16.16.
Several equities research analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $20.00 price objective on shares of NanoString Technologies in a research report on Friday, August 5th. Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird reissued a “buy” rating on shares of NanoString Technologies in a research report on Sunday, May 8th. Finally, Morgan Stanley reissued a “buy” rating on shares of NanoString Technologies in a research report on Sunday, May 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.50.
The stock’s market cap is $333.82 million. The stock has a 50-day moving average of $13.83 and a 200 day moving average of $14.35.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.11. The company earned $22.60 million during the quarter, compared to the consensus estimate of $19.62 million. The company’s revenue was up 72.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.66) earnings per share. Equities analysts anticipate that NanoString Technologies Inc. will post ($2.24) EPS for the current fiscal year.
A hedge fund recently raised its stake in NanoString Technologies stock. Morgan Stanley increased its stake in NanoString Technologies Inc. (NASDAQ:NSTG) by 21.8% during the fourth quarter, according to its most recent Form 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 about 8.13% of NanoString Technologies worth $23,317,000 at the end of the most recent quarter.
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.