Morgan Stanley restated their equal weight rating on shares of NanoString Technologies (NASDAQ:NSTG) in a report released on Thursday, March 8th. Morgan Stanley currently has a $12.00 price target on the biotechnology company’s stock, down from their previous price target of $13.00.
Several other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of NanoString Technologies from a sell rating to a strong sell rating in a research note on Friday, February 2nd. Zacks Investment Research lowered shares of NanoString Technologies from a buy rating to a hold rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average price target of $13.06.
Shares of NanoString Technologies (NSTG) traded down $0.07 during mid-day trading on Thursday, reaching $6.86. 497,577 shares of the company’s stock were exchanged, compared to its average volume of 373,589. NanoString Technologies has a 1 year low of $5.87 and a 1 year high of $20.70. The company has a market capitalization of $174.52, a PE ratio of -3.69 and a beta of 0.91. The company has a current ratio of 3.40, a quick ratio of 2.84 and a debt-to-equity ratio of 1.22.
In other news, Director William Young purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was bought at an average price of $6.91 per share, with a total value of $207,300.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $207,300. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 24.40% of the company’s stock.
Several institutional investors have recently modified their holdings of NSTG. California State Teachers Retirement System increased its position in NanoString Technologies by 1.3% during the 2nd quarter. California State Teachers Retirement System now owns 31,367 shares of the biotechnology company’s stock worth $519,000 after purchasing an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in NanoString Technologies by 25.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock worth $257,000 after purchasing an additional 3,132 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in NanoString Technologies by 7.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 70,742 shares of the biotechnology company’s stock valued at $1,170,000 after acquiring an additional 5,068 shares during the period. Nationwide Fund Advisors increased its position in NanoString Technologies by 17.1% in the 3rd quarter. Nationwide Fund Advisors now owns 48,125 shares of the biotechnology company’s stock valued at $778,000 after acquiring an additional 7,027 shares during the period. Finally, SG Americas Securities LLC acquired a new position in NanoString Technologies in the 3rd quarter valued at approximately $124,000. 93.30% of the stock is owned by institutional investors.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the 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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