NanoString Technologies (NASDAQ:NSTG – Get Rating) had its price target lowered by stock analysts at Cowen from $31.00 to $24.00 in a research note issued on Tuesday, Stock Target Advisor reports. Cowen’s price target indicates a potential upside of 383.87% from the stock’s previous close.
Several other research analysts also recently weighed in on the stock. StockNews.com initiated coverage on shares of NanoString Technologies in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Robert W. Baird lowered their target price on NanoString Technologies from $21.00 to $14.00 in a research report on Tuesday. Morgan Stanley reduced their price target on NanoString Technologies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, August 8th. Finally, Cowen lowered their price objective on NanoString Technologies from $31.00 to $24.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, NanoString Technologies currently has an average rating of “Hold” and an average target price of $33.43.
NanoString Technologies Stock Performance
Shares of NanoString Technologies stock traded down $4.26 during trading hours on Tuesday, reaching $4.96. 243,175 shares of the stock traded hands, compared to its average volume of 832,206. The company has a 50 day moving average price of $12.34 and a 200 day moving average price of $13.92. NanoString Technologies has a one year low of $9.00 and a one year high of $51.20. The company has a quick ratio of 6.04, a current ratio of 6.84 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $230.59 million, a price-to-earnings ratio of -1.62 and a beta of 1.69.
Hedge Funds Weigh In On NanoString Technologies
Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in shares of NanoString Technologies in the 2nd quarter valued at about $57,000. Principal Financial Group Inc. lifted its stake in shares of NanoString Technologies by 50.6% in the 2nd quarter. Principal Financial Group Inc. now owns 11,852 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 3,983 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of NanoString Technologies by 21.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,595 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 800 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of NanoString Technologies by 19.6% in the 2nd quarter. Truist Financial Corp now owns 13,176 shares of the biotechnology company’s stock worth $168,000 after purchasing an additional 2,157 shares during the period. Finally, Great West Life Assurance Co. Can bought a new position in shares of NanoString Technologies during the 3rd quarter valued at approximately $174,000.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.
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