Mirae Asset Global Investments Co. Ltd. Decreases Position in NanoString Technologies, Inc. (NASDAQ:NSTG)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) by 15.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 141,847 shares of the biotechnology company’s stock after selling 26,207 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NanoString Technologies were worth $4,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its holdings in shares of NanoString Technologies by 15.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 496 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in NanoString Technologies in the 1st quarter worth $211,000. AlphaCrest Capital Management LLC purchased a new position in NanoString Technologies in the 1st quarter worth $267,000. SG3 Management LLC purchased a new position in NanoString Technologies in the 4th quarter worth $317,000. Finally, Ensign Peak Advisors Inc purchased a new position in NanoString Technologies in the 4th quarter worth $342,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Cowen reduced their target price on NanoString Technologies to $31.00 in a research note on Tuesday, August 9th. Morgan Stanley reduced their target price on NanoString Technologies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. Finally, Robert W. Baird reduced their target price on NanoString Technologies from $30.00 to $21.00 in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.14.

NanoString Technologies Stock Performance

NASDAQ NSTG opened at $13.12 on Friday. The stock has a 50-day simple moving average of $13.94 and a two-hundred day simple moving average of $18.51. The firm has a market capitalization of $610.00 million, a P/E ratio of -4.32 and a beta of 1.87. NanoString Technologies, Inc. has a fifty-two week low of $11.12 and a fifty-two week high of $54.24. The company has a debt-to-equity ratio of 2.00, a quick ratio of 6.04 and a current ratio of 6.84.

NanoString Technologies (NASDAQ:NSTGGet Rating) last released its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.23). The company had revenue of $32.22 million for the quarter, compared to analysts’ expectations of $32.32 million. NanoString Technologies had a negative net margin of 97.45% and a negative return on equity of 87.86%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.60) EPS. On average, equities analysts forecast that NanoString Technologies, Inc. will post -2.55 earnings per share for the current year.

NanoString Technologies Profile

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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.

See Also

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

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