NanoString Technologies Inc (NASDAQ:NSTG)’s stock price rose 6.6% on Tuesday . The company traded as high as $26.84 and last traded at $26.66, approximately 405,350 shares traded hands during mid-day trading. A decline of 23% from the average daily volume of 524,000 shares. The stock had previously closed at $25.00.

NSTG has been the topic of a number of analyst reports. Zacks Investment Research cut NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. NanoString Technologies presently has a consensus rating of “Buy” and a consensus price target of $24.60.

The company has a fifty day simple moving average of $29.19. The company has a current ratio of 5.21, a quick ratio of 4.76 and a debt-to-equity ratio of 1.27. The firm has a market cap of $883.97 million, a P/E ratio of -9.59 and a beta of 1.08.

NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.02). The business had revenue of $30.35 million for the quarter, compared to the consensus estimate of $29.00 million. NanoString Technologies had a negative return on equity of 118.03% and a negative net margin of 68.16%. As a group, sell-side analysts forecast that NanoString Technologies Inc will post -2.35 EPS for the current year.

In other news, SVP Mary Tedd Allen sold 64,333 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $29.90, for a total transaction of $1,923,556.70. Following the transaction, the senior vice president now owns 55,433 shares of the company’s stock, valued at $1,657,446.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David W. Ghesquiere sold 6,954 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $29.41, for a total value of $204,517.14. Following the transaction, the senior vice president now directly owns 44,868 shares in the company, valued at approximately $1,319,567.88. The disclosure for this sale can be found here. Insiders have sold 106,912 shares of company stock worth $3,027,249 in the last 90 days. Company insiders own 5.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. ARK Investment Management LLC lifted its stake in shares of NanoString Technologies by 7.3% during the first quarter. ARK Investment Management LLC now owns 3,476,526 shares of the biotechnology company’s stock valued at $83,193,000 after acquiring an additional 237,834 shares during the period. Columbus Circle Investors acquired a new position in shares of NanoString Technologies during the first quarter valued at $891,000. Nikko Asset Management Americas Inc. lifted its stake in shares of NanoString Technologies by 13,584.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 479,514 shares of the biotechnology company’s stock valued at $11,475,000 after acquiring an additional 476,010 shares during the period. Geode Capital Management LLC lifted its stake in shares of NanoString Technologies by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 334,841 shares of the biotechnology company’s stock valued at $4,964,000 after acquiring an additional 34,717 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in shares of NanoString Technologies by 0.8% during the first quarter. Neuberger Berman Group LLC now owns 1,229,541 shares of the biotechnology company’s stock valued at $29,413,000 after acquiring an additional 9,662 shares during the period.

NanoString Technologies Company Profile (NASDAQ:NSTG)

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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