NanoString Technologies (NASDAQ:NSTG) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

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. “

Separately, BidaskClub upgraded shares of DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $24.60.

NSTG stock opened at $29.56 on Thursday. NanoString Technologies has a one year low of $11.12 and a one year high of $31.25. The company has a quick ratio of 4.48, a current ratio of 4.83 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $27.72.

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.04). NanoString Technologies had a negative return on equity of 166.73% and a negative net margin of 71.94%. The firm had revenue of $27.69 million during the quarter, compared to analyst estimates of $25.42 million. As a group, research analysts expect that NanoString Technologies will post -2.21 EPS for the current year.

In related news, SVP David W. Ghesquiere sold 6,954 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $29.41, for a total value of $204,517.14. Following the completion of the sale, the senior vice president now owns 44,868 shares in the company, valued at $1,319,567.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Bradley Gray sold 50,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $26.59, for a total transaction of $1,329,500.00. Following the completion of the sale, the insider now owns 36,611 shares of the company’s stock, valued at approximately $973,486.49. The disclosure for this sale can be found here. Insiders sold 121,287 shares of company stock valued at $3,457,574 in the last quarter. Company insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group acquired a new position in NanoString Technologies during the first quarter worth about $353,000. Neuberger Berman Group LLC raised its position in 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 worth $29,413,000 after acquiring an additional 9,662 shares during the last quarter. ARK Investment Management LLC raised its position in 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 worth $83,193,000 after acquiring an additional 237,834 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in NanoString Technologies during the first quarter worth about $418,000. Finally, EAM Global Investors LLC acquired a new position in NanoString Technologies during the first quarter worth about $1,325,000. Institutional investors own 93.88% 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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