NanoString Technologies (NASDAQ:NSTG) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other brokerages have also recently commented on NSTG. Zacks Investment Research cut shares of NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $35.00 price target on shares of NanoString Technologies in a research report on Friday, March 8th. Finally, ValuEngine raised shares of NanoString Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 2nd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $22.80.

Shares of NSTG opened at $23.71 on Thursday. The company has a current ratio of 3.05, a quick ratio of 2.75 and a debt-to-equity ratio of 1.58. The firm has a market cap of $737.03 million, a price-to-earnings ratio of -8.53 and a beta of 1.30. NanoString Technologies has a 12 month low of $8.97 and a 12 month high of $31.14.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.18). The firm had revenue of $30.03 million for the quarter. NanoString Technologies had a negative net margin of 72.52% and a negative return on equity of 252.59%. As a group, sell-side analysts predict that NanoString Technologies will post -2.36 EPS for the current year.

In other news, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $21.62, for a total transaction of $43,240,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mary Tedd Allen sold 2,941 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $25.91, for a total transaction of $76,201.31. Following the transaction, the senior vice president now directly owns 24,996 shares in the company, valued at approximately $647,646.36. The disclosure for this sale can be found here. Insiders have sold 2,088,141 shares of company stock worth $43,896,351 in the last ninety days. Insiders own 20.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in NSTG. Wells Fargo & Company MN boosted its position in shares of NanoString Technologies by 56.6% during the 3rd quarter. Wells Fargo & Company MN now owns 23,458 shares of the biotechnology company’s stock worth $419,000 after purchasing an additional 8,483 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of NanoString Technologies by 127.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 165,788 shares of the biotechnology company’s stock worth $2,956,000 after purchasing an additional 93,025 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of NanoString Technologies by 21.5% during the 3rd quarter. Alliancebernstein L.P. now owns 19,800 shares of the biotechnology company’s stock worth $353,000 after purchasing an additional 3,500 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of NanoString Technologies by 16.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 157,263 shares of the biotechnology company’s stock worth $2,805,000 after purchasing an additional 22,713 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of 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. 87.94% of the stock is currently owned by institutional investors.

About NanoString Technologies

NanoString Technologies, Inc engages in the provision of life science tools for translational research and molecular diagnostic products. It offers analysis solutions, gene expression panels, protein assays, DNA Assaya, miRNA assays, vantage 3D assays, custom solutions, sample prep and nCounter consumables, and nDesign gateway.

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