Shares of NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $33.43.
A number of research analysts recently commented on NSTG shares. Morgan Stanley decreased their price objective on NanoString Technologies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. StockNews.com started coverage on NanoString Technologies in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Cowen decreased their price objective on NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird decreased their price objective on NanoString Technologies from $21.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Cowen decreased their price objective on NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday.
NanoString Technologies Price Performance
Shares of NanoString Technologies stock traded down $3.00 on Tuesday, hitting $6.22. 12,176,144 shares of the company were exchanged, compared to its average volume of 823,857. The stock has a market capitalization of $289.19 million, a price-to-earnings ratio of -2.05 and a beta of 1.69. 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 1-year low of $4.37 and a 1-year high of $50.73. The company has a quick ratio of 6.04, a current ratio of 6.84 and a debt-to-equity ratio of 2.00.
Institutional Trading of NanoString Technologies
A number of large investors have recently modified their holdings of NSTG. Point72 Hong Kong Ltd purchased a new stake in shares of NanoString Technologies during the second quarter worth $57,000. OLD National Bancorp IN purchased a new position in NanoString Technologies in the third quarter valued at $146,000. Principal Financial Group Inc. increased its holdings in NanoString Technologies by 50.6% in the second quarter. Principal Financial Group Inc. now owns 11,852 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 3,983 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in NanoString Technologies by 21.1% in the first quarter. Advisor Group Holdings Inc. now owns 4,595 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 800 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in NanoString Technologies by 19.6% in the second quarter. Truist Financial Corp now owns 13,176 shares of the biotechnology company’s stock valued at $168,000 after buying an additional 2,157 shares during the last quarter.
About NanoString Technologies
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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