NanoString Technologies, Inc. (NASDAQ:NSTG) Receives $7.63 Consensus Price Target from Analysts

Shares of NanoString Technologies, Inc. (NASDAQ:NSTG) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.63.

Separately, StockNews.com started coverage on shares of NanoString Technologies in a research report on Sunday, March 24th. They set a “sell” rating on the stock.

Institutional Investors Weigh In On NanoString Technologies

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of NanoString Technologies by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 3,789,691 shares of the biotechnology company’s stock valued at $2,836,000 after purchasing an additional 219,832 shares in the last quarter. Platinum Investment Management Ltd. boosted its stake in shares of NanoString Technologies by 21.5% in the 4th quarter. Platinum Investment Management Ltd. now owns 2,775,853 shares of the biotechnology company’s stock valued at $2,077,000 after purchasing an additional 490,716 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in NanoString Technologies by 198.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 571,020 shares of the biotechnology company’s stock worth $427,000 after buying an additional 379,830 shares during the period. AMH Equity Ltd boosted its position in NanoString Technologies by 74.5% during the 4th quarter. AMH Equity Ltd now owns 960,000 shares of the biotechnology company’s stock worth $718,000 after buying an additional 410,000 shares during the period. Finally, Strs Ohio boosted its position in NanoString Technologies by 158.8% during the 4th quarter. Strs Ohio now owns 489,600 shares of the biotechnology company’s stock worth $366,000 after buying an additional 300,400 shares during the period.

NanoString Technologies Stock Performance

The company has a market capitalization of $5.07 million, a P/E ratio of -0.03 and a beta of 1.24. The business’s fifty day simple moving average is $0.40 and its 200 day simple moving average is $1.18. NanoString Technologies has a 12 month low of $0.05 and a 12 month high of $11.78.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures, and sells technology for scientific and clinical information in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.