Bank of New York Mellon Corp increased its stake in shares of NanoString Technologies Inc. (NASDAQ:NSTG) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,569 shares of the company’s stock after buying an additional 7,272 shares during the period. Bank of New York Mellon Corp owned about 0.49% of NanoString Technologies worth $1,229,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC acquired a new stake in shares of NanoString Technologies during the second quarter worth $211,000. Strs Ohio raised its stake in shares of NanoString Technologies by 8.5% in the second quarter. Strs Ohio now owns 31,900 shares of the company’s stock worth $401,000 after buying an additional 2,500 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of NanoString Technologies during the second quarter worth $532,000. Harbourvest Partners LLC acquired a new stake in shares of NanoString Technologies during the first quarter worth $426,000. Finally, Geode Capital Management LLC raised its stake in shares of NanoString Technologies by 11.7% in the first quarter. Geode Capital Management LLC now owns 80,546 shares of the company’s stock worth $1,225,000 after buying an additional 8,405 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.
Shares of NanoString Technologies Inc. (NASDAQ:NSTG) traded down 5.72% during midday trading on Thursday, reaching $19.93. The company had a trading volume of 182,888 shares. NanoString Technologies Inc. has a 52-week low of $11.30 and a 52-week high of $22.49. The company’s 50 day moving average price is $18.38 and its 200 day moving average price is $15.53. The stock’s market capitalization is $395.31 million.
NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.11. NanoString Technologies had a negative return on equity of 310.30% and a negative net margin of 58.00%. The firm had revenue of $22.60 million for the quarter, compared to analyst estimates of $19.62 million. During the same quarter in the prior year, the company earned ($0.66) EPS. NanoString Technologies’s revenue was up 72.5% on a year-over-year basis. Equities research analysts expect that NanoString Technologies Inc. will post ($2.24) earnings per share for the current year.
A number of brokerages have recently weighed in on NSTG. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of NanoString Technologies in a research note on Friday, August 5th. Zacks Investment Research lowered NanoString Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.50.
In other NanoString Technologies news, SVP Wayne Burns sold 3,961 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $16.50, for a total value of $65,356.50. Following the sale, the senior vice president now owns 59,704 shares of the company’s stock, valued at approximately $985,116. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles P. Waite, Jr. sold 29,105 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.51, for a total value of $480,523.55. Following the completion of the sale, the director now directly owns 1,707 shares in the company, valued at approximately $28,182.57. The disclosure for this sale can be found here. 33.30% of the stock is owned by company insiders.
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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