NanoString Technologies Inc (NSTG) Rating Lowered to Sell at Zacks Investment Research

NanoString Technologies Inc (NASDAQ:NSTG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. “

Shares of NanoString Technologies (NASDAQ:NSTG) opened at 19.36 on Thursday. NanoString Technologies has a 1-year low of $11.89 and a 1-year high of $23.45. The firm has a 50-day moving average of $18.93 and a 200 day moving average of $19.97. The stock’s market cap is $419.14 million.

NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Wednesday, March 1st. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.06. The company had revenue of $25.23 million for the quarter, compared to the consensus estimate of $24.90 million. NanoString Technologies had a negative net margin of 53.02% and a negative return on equity of 784.63%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.44) EPS. Equities research analysts forecast that NanoString Technologies will post ($2.66) earnings per share for the current year.

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Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of NanoString Technologies by 68.0% in the third quarter. Acadian Asset Management LLC now owns 70,872 shares of the company’s stock worth $1,416,000 after buying an additional 28,689 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in shares of NanoString Technologies by 177.2% in the third quarter. Essex Investment Management Co. LLC now owns 105,406 shares of the company’s stock worth $2,106,000 after buying an additional 67,379 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of NanoString Technologies during the third quarter worth $763,000. Granite Investment Partners LLC raised its stake in shares of NanoString Technologies by 5.9% in the third quarter. Granite Investment Partners LLC now owns 109,198 shares of the company’s stock worth $2,181,000 after buying an additional 6,075 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of NanoString Technologies by 376.5% in the third quarter. New York State Common Retirement Fund now owns 111,378 shares of the company’s stock worth $2,225,000 after buying an additional 88,005 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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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