Geode Capital Management LLC Boosts Position in NanoString Technologies Inc (NASDAQ:NSTG)

Geode Capital Management LLC increased its holdings in shares of NanoString Technologies Inc (NASDAQ:NSTG) by 15.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 521,609 shares of the biotechnology company’s stock after purchasing an additional 70,598 shares during the quarter. Geode Capital Management LLC owned approximately 1.38% of NanoString Technologies worth $12,544,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in NanoString Technologies by 265.9% during the first quarter. Wellington Management Group LLP now owns 2,560,499 shares of the biotechnology company’s stock worth $61,580,000 after buying an additional 1,860,727 shares during the period. Pictet Asset Management Ltd. increased its position in NanoString Technologies by 21.0% during the fourth quarter. Pictet Asset Management Ltd. now owns 939,816 shares of the biotechnology company’s stock worth $26,146,000 after buying an additional 163,093 shares during the period. State Street Corp increased its position in NanoString Technologies by 2.3% during the first quarter. State Street Corp now owns 694,719 shares of the biotechnology company’s stock worth $16,708,000 after buying an additional 15,363 shares during the period. Frontier Capital Management Co. LLC increased its position in NanoString Technologies by 5.6% during the first quarter. Frontier Capital Management Co. LLC now owns 687,850 shares of the biotechnology company’s stock worth $16,543,000 after buying an additional 36,449 shares during the period. Finally, Federated Hermes Inc. increased its position in NanoString Technologies by 24.9% during the first quarter. Federated Hermes Inc. now owns 627,665 shares of the biotechnology company’s stock worth $15,096,000 after buying an additional 125,227 shares during the period.

Shares of NSTG stock opened at $28.84 on Wednesday. The business’s fifty day moving average price is $31.01 and its 200 day moving average price is $29.17. NanoString Technologies Inc has a 1-year low of $13.85 and a 1-year high of $36.43. The firm has a market capitalization of $1.09 billion, a PE ratio of -17.59 and a beta of 1.27. The company has a debt-to-equity ratio of 1.43, a current ratio of 8.95 and a quick ratio of 8.32.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.33). NanoString Technologies had a negative return on equity of 73.44% and a negative net margin of 46.13%. The business had revenue of $26.61 million for the quarter, compared to analyst estimates of $24.67 million. Equities research analysts expect that NanoString Technologies Inc will post -2.49 earnings per share for the current fiscal year.

Several research analysts have commented on the company. ValuEngine raised NanoString Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus dropped their target price on NanoString Technologies from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. BidaskClub lowered NanoString Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, June 26th. Zacks Investment Research lowered NanoString Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 17th. Finally, UBS Group dropped their target price on NanoString Technologies from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. NanoString Technologies has a consensus rating of “Buy” and a consensus target price of $34.50.

In other NanoString Technologies news, Director Kirk Malloy sold 1,500 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $30.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 1,500 shares in the company, valued at $45,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Bradley Gray sold 6,363 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $33.57, for a total value of $213,605.91. Following the sale, the chief executive officer now owns 109,266 shares in the company, valued at $3,668,059.62. The disclosure for this sale can be found here. Insiders have sold 12,097 shares of company stock worth $382,716 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

NanoString Technologies Company Profile

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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