Quantitative Systematic Strategies LLC purchased a new stake in NanoString Technologies Inc. (NASDAQ:NSTG) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 16,872 shares of the company’s stock, valued at approximately $211,000.
Other institutional investors also recently added to or reduced their stakes in the company. Harbourvest Partners LLC acquired a new position in shares of NanoString Technologies during the first quarter worth about $426,000. Geode Capital Management LLC raised its position in shares of NanoString Technologies by 11.7% in the first quarter. Geode Capital Management LLC now owns 80,546 shares of the company’s stock worth $1,225,000 after buying an additional 8,405 shares during the last quarter. Altrinsic Global Advisors LLC raised its position in shares of NanoString Technologies by 5.8% in the first quarter. Altrinsic Global Advisors LLC now owns 229,211 shares of the company’s stock worth $3,489,000 after buying an additional 12,500 shares during the last quarter. Strs Ohio raised its position in shares of NanoString Technologies by 8.5% in the second quarter. Strs Ohio now owns 31,900 shares of the company’s stock worth $401,000 after buying an additional 2,500 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of NanoString Technologies during the second quarter worth about $532,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NanoString Technologies Inc. (NASDAQ:NSTG) traded down 0.25% during midday trading on Monday, hitting $19.66. The stock had a trading volume of 75,238 shares. The firm’s market cap is $389.96 million. The firm has a 50-day moving average of $18.58 and a 200 day moving average of $15.58. NanoString Technologies Inc. has a 12-month low of $11.30 and a 12-month high of $22.49.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.55) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.11. The business had revenue of $22.60 million for the quarter, compared to analyst estimates of $19.62 million. NanoString Technologies had a negative return on equity of 310.30% and a negative net margin of 58.00%. The firm’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.66) EPS. On average, analysts expect that NanoString Technologies Inc. will post ($2.24) earnings per share for the current year.
NSTG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. BTIG Research reiterated a “buy” rating and issued a $20.00 price target on shares of NanoString Technologies in a report on Friday, August 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. NanoString Technologies currently has an average rating of “Buy” and a consensus price target of $18.50.
In other news, SVP Wayne Burns sold 3,961 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $16.50, for a total transaction of $65,356.50. Following the transaction, the senior vice president now owns 59,704 shares of the company’s stock, valued at approximately $985,116. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles P. Waite, Jr. sold 72,145 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $16.61, for a total value of $1,198,328.45. Following the transaction, the director now directly owns 1,707 shares in the company, valued at approximately $28,353.27. The disclosure for this sale can be found here. Insiders own 33.30% of the company’s stock.
NanoString Technologies Company Profile
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.