State Board of Administration of Florida Retirement System Reduces Holdings in NanoString Technologies, Inc. (NASDAQ:NSTG)

State Board of Administration of Florida Retirement System reduced its stake in NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) by 20.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,069 shares of the biotechnology company’s stock after selling 4,760 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in NanoString Technologies were worth $144,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in NanoString Technologies in the 2nd quarter valued at $57,000. Tower Research Capital LLC TRC grew its holdings in NanoString Technologies by 181.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,705 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 3,678 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of NanoString Technologies during the 4th quarter worth $100,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NanoString Technologies by 39.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,214 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 3,725 shares during the period. Finally, Handelsbanken Fonder AB purchased a new position in shares of NanoString Technologies during the 4th quarter worth $124,000.

Insider Activity

In related news, Director Charles P. Waite, Jr. bought 12,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $8.35 per share, with a total value of $100,200.00. Following the completion of the transaction, the director now directly owns 23,300 shares of the company’s stock, valued at $194,555. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NanoString Technologies news, Director Gregory Norden bought 12,500 shares of NanoString Technologies stock in a transaction dated Tuesday, March 7th. The stock was bought at an average price of $9.84 per share, for a total transaction of $123,000.00. Following the completion of the acquisition, the director now directly owns 23,800 shares of the company’s stock, valued at $234,192. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles P. Waite, Jr. bought 12,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $8.35 per share, for a total transaction of $100,200.00. Following the completion of the transaction, the director now directly owns 23,300 shares of the company’s stock, valued at $194,555. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

NanoString Technologies Trading Down 9.7 %

Shares of NSTG stock opened at $5.65 on Wednesday. The business’s 50 day moving average is $8.97 and its two-hundred day moving average is $8.91. NanoString Technologies, Inc. has a twelve month low of $4.37 and a twelve month high of $18.51. The company has a market capitalization of $267.41 million, a P/E ratio of -1.63 and a beta of 1.64. The company has a current ratio of 4.34, a quick ratio of 3.54 and a debt-to-equity ratio of 16.67.

NanoString Technologies (NASDAQ:NSTG – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The biotechnology company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.34). The business had revenue of $34.42 million during the quarter, compared to analysts’ expectations of $33.15 million. NanoString Technologies had a negative net margin of 122.19% and a negative return on equity of 252.96%. Equities analysts forecast that NanoString Technologies, Inc. will post -2.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group began coverage on NanoString Technologies in a report on Thursday, February 2nd. They set a “buy” rating and a $15.00 price target for the company. StockNews.com began coverage on NanoString Technologies in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Morgan Stanley decreased their target price on NanoString Technologies from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.83.

NanoString Technologies Profile

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NanoString Technologies, Inc engages in the development and commercialization of instruments and services for profiling of genes and proteins from tissue sample. It offers the GeoMx Digital Spatial Profiler, nCounter Analysis System product platforms, GeoMx Assays, nCounter Panels & Assays and CosMx Spatial Molecular.