First Republic Investment Management Inc. Sells 3,113 Shares of NanoString Technologies, Inc. (NASDAQ:NSTG)

First Republic Investment Management Inc. lowered its position in NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) by 13.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,851 shares of the biotechnology company’s stock after selling 3,113 shares during the period. First Republic Investment Management Inc.’s holdings in NanoString Technologies were worth $881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dark Forest Capital Management LP boosted its holdings in shares of NanoString Technologies by 102.7% in the third quarter. Dark Forest Capital Management LP now owns 1,267 shares of the biotechnology company’s stock worth $61,000 after buying an additional 642 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of NanoString Technologies by 449.7% in the third quarter. Point72 Hong Kong Ltd now owns 1,979 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 1,619 shares in the last quarter. Advisor Group Holdings Inc. grew its position in shares of NanoString Technologies by 15.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 496 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in NanoString Technologies by 33.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,400 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,107 shares during the period. Finally, Jump Financial LLC purchased a new position in NanoString Technologies during the third quarter valued at $263,000.

NSTG opened at $16.73 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.60 and a current ratio of 8.20. The stock’s 50 day moving average price is $26.67 and its 200-day moving average price is $34.84. NanoString Technologies, Inc. has a one year low of $13.52 and a one year high of $70.40. The stock has a market cap of $776.47 million, a price-to-earnings ratio of -6.00 and a beta of 1.98.

NanoString Technologies (NASDAQ:NSTGGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.33). NanoString Technologies had a negative net margin of 87.89% and a negative return on equity of 63.97%. The business had revenue of $31.08 million for the quarter, compared to analysts’ expectations of $30.95 million. During the same quarter in the previous year, the firm earned ($0.62) EPS. NanoString Technologies’s revenue was down 1.7% compared to the same quarter last year. As a group, analysts predict that NanoString Technologies, Inc. will post -2.19 earnings per share for the current fiscal year.

NSTG has been the topic of several recent research reports. StockNews.com started coverage on NanoString Technologies in a report on Thursday, March 31st. They set a “sell” rating on the stock. Cowen decreased their price target on shares of NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday. Canaccord Genuity Group reduced their target price on shares of NanoString Technologies from $50.00 to $37.00 in a report on Wednesday, April 13th. Finally, JPMorgan Chase & Co. dropped their price target on NanoString Technologies from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

In related news, SVP Joseph M. Beechem sold 2,436 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $27.81, for a total value of $67,745.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Bradley Gray sold 8,625 shares of the stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $27.81, for a total transaction of $239,861.25. The disclosure for this sale can be found here. Insiders sold a total of 33,864 shares of company stock worth $1,054,146 in the last ninety days. 2.80% of the stock is currently owned by insiders.

NanoString Technologies Company Profile (Get Rating)

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

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Institutional Ownership by Quarter for NanoString Technologies (NASDAQ:NSTG)

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