American International Group Inc. lifted its position in shares of NanoString Technologies Inc (NASDAQ:NSTG) by 14.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 23,113 shares of the biotechnology company’s stock after acquiring an additional 2,934 shares during the quarter. American International Group Inc.’s holdings in NanoString Technologies were worth $678,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NSTG. Advisor Group Holdings Inc. purchased a new stake in shares of NanoString Technologies during the 1st quarter worth $30,000. Fifth Third Bancorp purchased a new position in shares of NanoString Technologies in the second quarter worth about $59,000. Ameritas Investment Partners Inc. raised its stake in shares of NanoString Technologies by 17.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,339 shares of the biotechnology company’s stock worth $98,000 after purchasing an additional 506 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NanoString Technologies by 123.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,517 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 3,052 shares during the last quarter. Finally, First Mercantile Trust Co. grew its holdings in NanoString Technologies by 84.9% during the first quarter. First Mercantile Trust Co. now owns 6,891 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 3,164 shares during the period.
Shares of NASDAQ NSTG opened at $43.70 on Wednesday. NanoString Technologies Inc has a twelve month low of $13.85 and a twelve month high of $44.29. The stock has a market capitalization of $1.66 billion, a PE ratio of -24.41 and a beta of 1.40. The company has a current ratio of 8.48, a quick ratio of 7.74 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $38.29 and a 200-day simple moving average of $32.25.
NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Monday, August 10th. The biotechnology company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.16). The firm had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $16.15 million. NanoString Technologies had a negative net margin of 55.26% and a negative return on equity of 75.15%. On average, equities analysts predict that NanoString Technologies Inc will post -2.85 earnings per share for the current year.
Several analysts recently commented on the company. BidaskClub lowered NanoString Technologies from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group raised their target price on NanoString Technologies from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Zacks Investment Research lowered NanoString Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 14th. Finally, Morgan Stanley started coverage on NanoString Technologies in a report on Wednesday, September 9th. They issued an “equal weight” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. NanoString Technologies has an average rating of “Hold” and an average price target of $36.60.
In related news, CEO R Bradley Gray sold 40,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $37.03, for a total value of $1,481,200.00. Following the transaction, the chief executive officer now directly owns 142,903 shares of the company’s stock, valued at approximately $5,291,698.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Hershberg sold 1,500 shares of the stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $36.15, for a total value of $54,225.00. Following the completion of the transaction, the director now directly owns 3,390 shares in the company, valued at $122,548.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,693 shares of company stock worth $4,448,993. Insiders own 4.20% of the company’s stock.
About NanoString Technologies
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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