Zacks Investment Research downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a buy rating to a hold rating in a report issued on Saturday morning.

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. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of NanoString Technologies from a sell rating to a hold rating in a research report on Friday, May 18th. Robert W. Baird increased their price objective on shares of NanoString Technologies from $13.00 to $15.00 and gave the stock an outperform rating in a research note on Monday, June 4th. Morgan Stanley increased their price objective on shares of NanoString Technologies from $12.00 to $16.00 and gave the stock an equal weight rating in a research note on Friday, July 13th. Finally, BidaskClub upgraded shares of NanoString Technologies from a buy rating to a strong-buy rating in a research note on Saturday, May 19th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $16.25.

NASDAQ:NSTG traded up $1.19 during midday trading on Friday, reaching $14.00. 250,142 shares of the stock traded hands, compared to its average volume of 448,017. NanoString Technologies has a 12-month low of $5.87 and a 12-month high of $16.75. The company has a debt-to-equity ratio of 5.77, a current ratio of 2.49 and a quick ratio of 2.67.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.80) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.09). NanoString Technologies had a negative net margin of 54.34% and a negative return on equity of 201.90%. The firm had revenue of $25.00 million for the quarter, compared to analysts’ expectations of $25.10 million. equities research analysts anticipate that NanoString Technologies will post -2.58 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NSTG. Wells Fargo & Company MN lifted its holdings in NanoString Technologies by 117.8% during the fourth quarter. Wells Fargo & Company MN now owns 27,224 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 14,724 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of NanoString Technologies in the second quarter worth about $261,000. GSA Capital Partners LLP purchased a new position in shares of NanoString Technologies in the second quarter worth about $271,000. Acadian Asset Management LLC purchased a new position in shares of NanoString Technologies in the second quarter worth about $325,000. Finally, Baird Financial Group Inc. lifted its stake in shares of NanoString Technologies by 14.6% in the first quarter. Baird Financial Group Inc. now owns 45,738 shares of the biotechnology company’s stock worth $343,000 after buying an additional 5,824 shares in the last quarter. 85.93% of the stock is currently owned by institutional investors and hedge funds.

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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