California State Teachers Retirement System raised its stake in shares of NanoString Technologies Inc. (NASDAQ:NSTG) by 9.4% during the second quarter, Holdings Channel reports. The firm owned 31,067 shares of the company’s stock after buying an additional 2,658 shares during the period. California State Teachers Retirement System owned about 0.16% of NanoString Technologies worth $391,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in NanoString Technologies during the second quarter valued at $211,000. Harbourvest Partners LLC purchased a new position in NanoString Technologies during the first quarter valued at approximately $426,000. Strs Ohio increased its position in NanoString Technologies by 8.5% in the second quarter. Strs Ohio now owns 31,900 shares of the company’s stock valued at $401,000 after buying an additional 2,500 shares in the last quarter. Acadian Asset Management LLC purchased a new position in NanoString Technologies during the second quarter valued at approximately $532,000. Finally, Geode Capital Management LLC increased its position in NanoString Technologies by 11.7% in the first quarter. Geode Capital Management LLC now owns 80,546 shares of the company’s stock valued at $1,225,000 after buying an additional 8,405 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.
NanoString Technologies Inc. (NASDAQ:NSTG) traded down 0.40% during trading on Friday, reaching $19.76. The company’s stock had a trading volume of 38,036 shares. The company’s market cap is $391.94 million. NanoString Technologies Inc. has a 52-week low of $11.30 and a 52-week high of $22.49. The stock has a 50-day moving average price of $18.49 and a 200 day moving average price of $15.56.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $22.60 million for the quarter, compared to analyst estimates of $19.62 million. During the same period in the previous year, the company posted ($0.66) EPS. The firm’s revenue for the quarter was up 72.5% compared to the same quarter last year. On average, analysts expect that NanoString Technologies Inc. will post ($2.24) EPS for the current year.
NSTG has been the subject of several research reports. BTIG Research reiterated a “buy” rating and issued a $20.00 target price on shares of NanoString Technologies in a research report on Friday, August 5th. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. NanoString Technologies currently has a consensus rating of “Buy” and a consensus target price of $18.50.
In related news, SVP Wayne Burns sold 3,961 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $16.50, for a total transaction of $65,356.50. Following the completion of the transaction, the senior vice president now directly owns 59,704 shares in the company, valued at $985,116. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles P. Waite, Jr. sold 257,698 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $16.55, for a total value of $4,264,901.90. Following the transaction, the director now owns 1,707 shares of the company’s stock, valued at $28,250.85. The disclosure for this sale can be found here. Corporate insiders own 33.30% of the company’s stock.
NanoString Technologies Company Profile
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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