NanoString Technologies (NASDAQ:NSTG) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of NanoString Technologies (NASDAQ:NSTG) from a hold rating to a sell rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “

Several other research analysts have also weighed in on the company. BidaskClub raised NanoString Technologies from a sell rating to a hold rating in a research report on Tuesday, October 29th. ValuEngine raised NanoString Technologies from a hold rating to a buy rating in a research report on Friday, November 1st.

Shares of NASDAQ:NSTG traded down $0.63 on Friday, hitting $23.12. The company’s stock had a trading volume of 668,400 shares, compared to its average volume of 504,510. The stock’s 50-day moving average is $22.23 and its two-hundred day moving average is $25.86. The company has a market capitalization of $886.10 million, a price-to-earnings ratio of -8.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.76 and a current ratio of 5.21. NanoString Technologies has a 12 month low of $13.26 and a 12 month high of $34.78.

NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Monday, November 4th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.10). NanoString Technologies had a negative return on equity of 118.36% and a negative net margin of 72.30%. The firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $28.05 million. Equities analysts expect that NanoString Technologies will post -2.5 earnings per share for the current fiscal year.

In other news, Director Charles P. Waite, Jr. sold 1,707 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $21.75, for a total transaction of $37,127.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO R Bradley Gray sold 40,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $24.84, for a total value of $993,600.00. Following the transaction, the chief executive officer now directly owns 89,905 shares in the company, valued at approximately $2,233,240.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,253 shares of company stock worth $2,207,923. Insiders own 5.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its holdings in shares of NanoString Technologies by 133.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock valued at $722,000 after acquiring an additional 13,610 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of NanoString Technologies by 1.4% during the 2nd quarter. ARK Investment Management LLC now owns 3,526,095 shares of the biotechnology company’s stock valued at $107,017,000 after acquiring an additional 49,569 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of NanoString Technologies by 101.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock valued at $28,718,000 after acquiring an additional 477,313 shares during the last quarter. Invesco Ltd. increased its holdings in shares of NanoString Technologies by 241.3% during the 2nd quarter. Invesco Ltd. now owns 156,032 shares of the biotechnology company’s stock valued at $4,736,000 after acquiring an additional 110,315 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of NanoString Technologies by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,727,959 shares of the biotechnology company’s stock valued at $52,443,000 after acquiring an additional 166,877 shares during the last quarter.

About NanoString Technologies

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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