NanoString Technologies, Inc. (NASDAQ:NSTG) Expected to Post Quarterly Sales of $37.35 Million

Brokerages expect NanoString Technologies, Inc. (NASDAQ:NSTG) to announce sales of $37.35 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $37.59 million and the lowest estimate coming in at $37.10 million. NanoString Technologies reported sales of $31.85 million during the same quarter last year, which indicates a positive year over year growth rate of 17.3%. The business is scheduled to issue its next quarterly earnings results on Monday, November 8th.

On average, analysts expect that NanoString Technologies will report full year sales of $146.79 million for the current fiscal year, with estimates ranging from $145.00 million to $150.03 million. For the next financial year, analysts expect that the business will report sales of $189.14 million, with estimates ranging from $184.40 million to $195.35 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Wednesday, August 4th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.04). NanoString Technologies had a negative return on equity of 45.77% and a negative net margin of 74.15%. The firm had revenue of $33.86 million during the quarter, compared to analysts’ expectations of $32.30 million. The company’s quarterly revenue was up 49.8% compared to the same quarter last year.

Separately, Zacks Investment Research downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.20.

In other news, Director Kirk Malloy sold 1,500 shares of NanoString Technologies stock in a transaction on Monday, August 16th. The shares were sold at an average price of $55.82, for a total value of $83,730.00. Following the transaction, the director now directly owns 8,010 shares of the company’s stock, valued at approximately $447,118.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph M. Beechem sold 23,114 shares of NanoString Technologies stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $61.14, for a total transaction of $1,413,189.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,459 shares of company stock worth $2,082,813. 2.80% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC grew its position in NanoString Technologies by 0.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 34,599 shares of the biotechnology company’s stock valued at $2,242,000 after buying an additional 259 shares during the last quarter. Invesco Ltd. grew its position in NanoString Technologies by 6,724.4% in the 2nd quarter. Invesco Ltd. now owns 1,050,005 shares of the biotechnology company’s stock valued at $68,030,000 after buying an additional 1,034,619 shares during the last quarter. Maverick Capital Ltd. grew its position in NanoString Technologies by 425.7% in the 2nd quarter. Maverick Capital Ltd. now owns 1,656 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 1,341 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in NanoString Technologies by 106,541.7% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 12,797 shares of the biotechnology company’s stock valued at $829,000 after buying an additional 12,785 shares during the last quarter. Finally, Millennium Management LLC grew its position in NanoString Technologies by 112.6% in the 2nd quarter. Millennium Management LLC now owns 546,759 shares of the biotechnology company’s stock valued at $35,425,000 after buying an additional 289,545 shares during the last quarter.

NanoString Technologies stock traded down $1.66 during trading on Friday, reaching $49.75. The stock had a trading volume of 18,018 shares, compared to its average volume of 524,500. NanoString Technologies has a 52-week low of $34.31 and a 52-week high of $86.42. The business has a 50 day moving average price of $57.89 and a 200 day moving average price of $61.48. The company has a quick ratio of 10.14, a current ratio of 10.81 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.26 billion, a PE ratio of -22.26 and a beta of 1.70.

NanoString Technologies Company Profile

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 and nCounter Analysis System product platforms, both of which include instruments, related consumables, and software.

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