NanoString Technologies (NASDAQ:NSTG) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.56) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.01, Morningstar.com reports. NanoString Technologies had a negative return on equity of 201.90% and a negative net margin of 54.34%. The business had revenue of $28.62 million during the quarter, compared to analysts’ expectations of $25.90 million. NanoString Technologies updated its FY 2018 guidance to $-2.5–2.6 EPS.

NSTG opened at $15.96 on Friday. NanoString Technologies has a 12 month low of $5.87 and a 12 month high of $18.86. The firm has a market cap of $453.37 million, a P/E ratio of -8.67 and a beta of 0.73. The company has a quick ratio of 2.01, a current ratio of 2.49 and a debt-to-equity ratio of 5.77.

In related news, Director Nicholas Galakatos sold 85,823 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $15.99, for a total transaction of $1,372,309.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mary Tedd Allen sold 26,895 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $17.60, for a total value of $473,352.00. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its stake in NanoString Technologies by 30.8% during the 3rd quarter. ARK Investment Management LLC now owns 3,434,304 shares of the biotechnology company’s stock worth $61,234,000 after purchasing an additional 808,832 shares in the last quarter. BlackRock Inc. grew its stake in NanoString Technologies by 19.4% during the 3rd quarter. BlackRock Inc. now owns 2,211,521 shares of the biotechnology company’s stock worth $39,432,000 after purchasing an additional 358,991 shares in the last quarter. Northern Trust Corp grew its stake in NanoString Technologies by 11.6% during the 2nd quarter. Northern Trust Corp now owns 269,081 shares of the biotechnology company’s stock worth $3,681,000 after purchasing an additional 28,059 shares in the last quarter. Platinum Investment Management Ltd. grew its stake in NanoString Technologies by 15.8% during the 2nd quarter. Platinum Investment Management Ltd. now owns 232,500 shares of the biotechnology company’s stock worth $3,181,000 after purchasing an additional 31,700 shares in the last quarter. Finally, Algert Global LLC grew its stake in NanoString Technologies by 8.4% during the 2nd quarter. Algert Global LLC now owns 222,902 shares of the biotechnology company’s stock worth $3,049,000 after purchasing an additional 17,290 shares in the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on NSTG shares. Morgan Stanley lifted their price objective on NanoString Technologies from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, July 13th. ValuEngine cut NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Zacks Investment Research raised NanoString Technologies from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, August 7th. Robert W. Baird lifted their price objective on NanoString Technologies from $15.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Finally, JPMorgan Chase & Co. lifted their price objective on NanoString Technologies to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 13th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $19.60.

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About NanoString Technologies

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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Earnings History for NanoString Technologies (NASDAQ:NSTG)

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