NanoString Technologies (NASDAQ:NSTG) Issues Quarterly Earnings Results

NanoString Technologies (NASDAQ:NSTG – Get Rating) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.18), Briefing.com reports. NanoString Technologies had a negative return on equity of 80.13% and a negative net margin of 97.45%. The firm had revenue of $32.22 million for the quarter, compared to the consensus estimate of $32.32 million. During the same quarter in the previous year, the business earned ($0.60) EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis.

NanoString Technologies Stock Performance

Shares of NanoString Technologies stock traded up $0.67 during trading hours on Friday, reaching $15.40. The company’s stock had a trading volume of 1,547,272 shares, compared to its average volume of 798,174. NanoString Technologies has a one year low of $11.12 and a one year high of $62.56. The stock’s fifty day simple moving average is $13.66 and its two-hundred day simple moving average is $23.27. The company has a quick ratio of 7.11, a current ratio of 7.81 and a debt-to-equity ratio of 1.55.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Invesco Ltd. lifted its stake in shares of NanoString Technologies by 2.7% in the first quarter. Invesco Ltd. now owns 1,655,562 shares of the biotechnology company’s stock valued at $57,531,000 after buying an additional 44,127 shares in the last quarter. Polar Capital Holdings Plc lifted its position in shares of NanoString Technologies by 36.7% during the first quarter. Polar Capital Holdings Plc now owns 1,617,733 shares of the biotechnology company’s stock valued at $56,216,000 after purchasing an additional 434,081 shares in the last quarter. State Street Corp lifted its position in shares of NanoString Technologies by 4.5% during the first quarter. State Street Corp now owns 926,443 shares of the biotechnology company’s stock valued at $32,194,000 after purchasing an additional 40,245 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of NanoString Technologies by 10.8% during the first quarter. Goldman Sachs Group Inc. now owns 467,969 shares of the biotechnology company’s stock valued at $16,262,000 after purchasing an additional 45,483 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NanoString Technologies by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 331,833 shares of the biotechnology company’s stock valued at $11,532,000 after purchasing an additional 8,440 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NSTG shares. Cowen reduced their price objective on NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Canaccord Genuity Group cut their target price on shares of NanoString Technologies from $50.00 to $37.00 in a research note on Wednesday, April 13th. Canaccord Genuity Group cut their target price on shares of NanoString Technologies from $50.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 13th. Cowen set a $33.00 target price on shares of NanoString Technologies in a research note on Tuesday, July 19th. Finally, Robert W. Baird cut their target price on shares of NanoString Technologies from $30.00 to $21.00 in a research note on Friday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.33.

NanoString Technologies Company Profile

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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.