Wells Fargo & Company MN Purchases 204,224 Shares of NanoString Technologies Inc (NASDAQ:NSTG)

Wells Fargo & Company MN lifted its stake in NanoString Technologies Inc (NASDAQ:NSTG) by 210.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,166 shares of the biotechnology company’s stock after purchasing an additional 204,224 shares during the period. Wells Fargo & Company MN’s holdings in NanoString Technologies were worth $9,140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its holdings in shares of NanoString Technologies by 133.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock worth $722,000 after purchasing an additional 13,610 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of NanoString Technologies by 7.3% in the first quarter. ARK Investment Management LLC now owns 3,476,526 shares of the biotechnology company’s stock worth $83,193,000 after purchasing an additional 237,834 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of NanoString Technologies by 101.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock worth $28,718,000 after purchasing an additional 477,313 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of NanoString Technologies by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 1,229,541 shares of the biotechnology company’s stock worth $29,413,000 after purchasing an additional 9,662 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of NanoString Technologies in the second quarter worth about $1,830,000. Hedge funds and other institutional investors own 99.96% of the company’s stock.

In other NanoString Technologies news, Director William Young sold 24,125 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $25.29, for a total value of $610,121.25. Following the transaction, the director now owns 54,125 shares in the company, valued at approximately $1,368,821.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk Malloy sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $25.05, for a total transaction of $25,050.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $25,050. The disclosure for this sale can be found here. Insiders have sold a total of 183,504 shares of company stock worth $4,971,528 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

NSTG has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.25.

NanoString Technologies stock traded up $0.05 during midday trading on Friday, hitting $22.04. 44,653 shares of the company’s stock were exchanged, compared to its average volume of 497,469. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.76 and a current ratio of 5.21. NanoString Technologies Inc has a 12 month low of $13.26 and a 12 month high of $34.78. The firm has a 50-day moving average of $26.48 and a two-hundred day moving average of $26.80. The company has a market cap of $785.44 million, a PE ratio of -7.93 and a beta of 1.22.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.02). The company had revenue of $30.35 million during the quarter, compared to analysts’ expectations of $29.00 million. NanoString Technologies had a negative net margin of 68.16% and a negative return on equity of 118.03%. As a group, equities analysts expect that NanoString Technologies Inc will post -2.35 earnings per share for the current year.

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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Institutional Ownership by Quarter for NanoString Technologies (NASDAQ:NSTG)

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