NanoString Technologies Inc (NSTG) Stock Rating Lowered by Zacks Investment Research

NanoString Technologies Inc (NASDAQ:NSTG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “

Shares of NanoString Technologies (NASDAQ:NSTG) traded down 6.85% during trading on Thursday, reaching $17.69. 478,055 shares of the company’s stock were exchanged. The stock’s market cap is $382.99 million. The company has a 50 day moving average of $19.10 and a 200 day moving average of $20.14. NanoString Technologies has a 12-month low of $11.89 and a 12-month high of $23.45.

NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Wednesday, March 1st. The biotechnology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.03. NanoString Technologies had a negative return on equity of 784.63% and a negative net margin of 53.02%. The company had revenue of $25.23 million for the quarter, compared to analyst estimates of $24.90 million. During the same period in the previous year, the business posted ($0.44) EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that NanoString Technologies will post ($2.66) EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management Inc. increased its stake in NanoString Technologies by 237.0% in the fourth quarter. Fred Alger Management Inc. now owns 160,081 shares of the biotechnology company’s stock worth $3,570,000 after buying an additional 112,581 shares during the last quarter. Numeric Investors LLC bought a new stake in NanoString Technologies during the fourth quarter worth $1,970,000. Altrinsic Global Advisors LLC increased its stake in NanoString Technologies by 6.1% in the third quarter. Altrinsic Global Advisors LLC now owns 243,111 shares of the biotechnology company’s stock worth $4,857,000 after buying an additional 13,900 shares during the last quarter. Cadian Capital Management LP increased its stake in NanoString Technologies by 1.8% in the third quarter. Cadian Capital Management LP now owns 1,458,839 shares of the biotechnology company’s stock worth $29,148,000 after buying an additional 25,829 shares during the last quarter. Finally, Bogle Investment Management L P DE increased its stake in NanoString Technologies by 244.5% in the fourth quarter. Bogle Investment Management L P DE now owns 91,368 shares of the biotechnology company’s stock worth $2,037,000 after buying an additional 64,848 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.

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