Zacks Investment Research downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “

NSTG has been the subject of a number of other research reports. Robert W. Baird lowered their price objective on NanoString Technologies from $14.00 to $12.00 and set an outperform rating for the company in a research note on Friday, November 3rd. Cowen restated a buy rating and set a $20.00 price objective on shares of NanoString Technologies in a research note on Thursday, September 28th. Finally, Janney Montgomery Scott lowered NanoString Technologies from a buy rating to a neutral rating in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $15.06.

Shares of NanoString Technologies (NASDAQ:NSTG) traded down $0.02 during trading hours on Thursday, hitting $8.32. The company had a trading volume of 234,600 shares, compared to its average volume of 188,522. The stock has a market cap of $211.18, a P/E ratio of -4.02 and a beta of 0.82. The company has a current ratio of 3.35, a quick ratio of 2.89 and a debt-to-equity ratio of 1.08. NanoString Technologies has a 1-year low of $7.03 and a 1-year high of $20.70.

NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.11. The business had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted ($0.51) EPS. equities research analysts expect that NanoString Technologies will post -1.81 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of NSTG. Neuberger Berman Group LLC acquired a new stake in NanoString Technologies during the 3rd quarter valued at approximately $9,677,000. Vanguard Group Inc. grew its stake in NanoString Technologies by 27.9% during the 2nd quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock valued at $12,449,000 after purchasing an additional 164,141 shares in the last quarter. Algert Global LLC acquired a new stake in NanoString Technologies during the 3rd quarter valued at approximately $2,276,000. Ark Investment Management LLC grew its stake in NanoString Technologies by 248.2% during the 2nd quarter. Ark Investment Management LLC now owns 110,510 shares of the biotechnology company’s stock valued at $1,828,000 after purchasing an additional 78,769 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in shares of NanoString Technologies by 135.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 106,000 shares of the biotechnology company’s stock worth $1,713,000 after acquiring an additional 61,000 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

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NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the 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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