ValuEngine downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning.

Several other brokerages have also issued reports on NSTG. Robert W. Baird lowered their target price on NanoString Technologies from $23.00 to $19.00 and set an outperform rating on the stock in a research note on Thursday, October 12th. Janney Montgomery Scott lowered NanoString Technologies from a buy rating to a neutral rating in a research note on Thursday, October 12th. Cowen lowered NanoString Technologies from an outperform rating to a market perform rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research lowered NanoString Technologies from a hold rating to a sell rating in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. NanoString Technologies presently has a consensus rating of Hold and a consensus price target of $15.06.

Shares of NanoString Technologies (NSTG) opened at $6.70 on Friday. The company has a current ratio of 3.35, a quick ratio of 2.89 and a debt-to-equity ratio of 1.08. NanoString Technologies has a one year low of $6.54 and a one year high of $20.70.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its position in shares of NanoString Technologies by 1.3% in the second quarter. California State Teachers Retirement System now owns 31,367 shares of the biotechnology company’s stock valued at $519,000 after purchasing an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of NanoString Technologies by 25.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 3,132 shares in the last quarter. Rhumbline Advisers grew its position in shares of NanoString Technologies by 20.6% in the second quarter. Rhumbline Advisers now owns 21,332 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 3,640 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of NanoString Technologies by 7.7% in the second quarter. TIAA CREF Investment Management LLC now owns 70,742 shares of the biotechnology company’s stock valued at $1,170,000 after purchasing an additional 5,068 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in shares of NanoString Technologies by 17.1% in the third quarter. Nationwide Fund Advisors now owns 48,125 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 7,027 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

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About NanoString Technologies

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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