Granite Investment Partners LLC boosted its position in NanoString Technologies Inc. (NASDAQ:NSTG) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,198 shares of the company’s stock after buying an additional 6,075 shares during the period. Granite Investment Partners LLC’s holdings in NanoString Technologies were worth $2,181,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of NanoString Technologies by 3.0% in the second quarter. ProShare Advisors LLC now owns 16,568 shares of the company’s stock worth $209,000 after buying an additional 490 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of NanoString Technologies by 7.2% in the second quarter. Nationwide Fund Advisors now owns 9,064 shares of the company’s stock worth $114,000 after buying an additional 612 shares during the last quarter. Strs Ohio increased its position in shares of NanoString Technologies by 2.5% in the third quarter. Strs Ohio now owns 32,700 shares of the company’s stock worth $653,000 after buying an additional 800 shares during the last quarter. State Street Corp increased its position in shares of NanoString Technologies by 0.5% in the second quarter. State Street Corp now owns 181,377 shares of the company’s stock worth $2,286,000 after buying an additional 894 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of NanoString Technologies by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 98,526 shares of the company’s stock worth $1,969,000 after buying an additional 957 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.
NanoString Technologies Inc. (NASDAQ:NSTG) traded down 3.0206% during mid-day trading on Monday, reaching $22.1792. 26,954 shares of the company were exchanged. The firm’s market capitalization is $465.85 million. NanoString Technologies Inc. has a 1-year low of $11.30 and a 1-year high of $23.45. The stock has a 50-day moving average of $21.11 and a 200 day moving average of $16.71.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.01. The business had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $23.46 million. NanoString Technologies had a negative net margin of 53.02% and a negative return on equity of 784.63%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) earnings per share. Equities research analysts forecast that NanoString Technologies Inc. will post ($2.21) earnings per share for the current year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, November 22nd. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price objective on shares of NanoString Technologies in a research report on Friday, August 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. NanoString Technologies has an average rating of “Buy” and a consensus target price of $18.50.
In other news, SVP Barney Saunders sold 11,983 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $22.48, for a total transaction of $269,377.84. Following the sale, the senior vice president now owns 6,371 shares of the company’s stock, valued at $143,220.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles P. Waite, Jr. sold 29,105 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $16.51, for a total transaction of $480,523.55. Following the sale, the director now directly owns 1,707 shares in the company, valued at approximately $28,182.57. The disclosure for this sale can be found here. Insiders own 33.30% of the company’s stock.
About NanoString Technologies
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.