NanoString Technologies (NASDAQ:NSTG) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of NanoString Technologies (NASDAQ:NSTG) in a report issued on Wednesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

NanoString Technologies Price Performance

NanoString Technologies has a fifty-two week low of $0.05 and a fifty-two week high of $11.78. The stock’s 50-day moving average is $0.36 and its two-hundred day moving average is $1.11. The company has a market cap of $5.07 million, a P/E ratio of -0.03 and a beta of 1.24.

Hedge Funds Weigh In On NanoString Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Platinum Investment Management Ltd. lifted its position in NanoString Technologies by 104.7% in the 3rd quarter. Platinum Investment Management Ltd. now owns 2,285,137 shares of the biotechnology company’s stock worth $3,930,000 after buying an additional 1,168,745 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of NanoString Technologies by 93.3% in the 3rd quarter. Acadian Asset Management LLC now owns 2,003,708 shares of the biotechnology company’s stock worth $3,444,000 after acquiring an additional 967,219 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of NanoString Technologies by 3,642.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 935,681 shares of the biotechnology company’s stock worth $11,949,000 after acquiring an additional 910,681 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of NanoString Technologies by 26.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,569,859 shares of the biotechnology company’s stock valued at $6,140,000 after purchasing an additional 751,951 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of NanoString Technologies by 141.0% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 1,137,689 shares of the biotechnology company’s stock valued at $4,608,000 after purchasing an additional 665,700 shares during the last quarter.

About NanoString Technologies

NanoString Technologies, Inc develops, manufactures, and sells technology for scientific and clinical information 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.