NanoString Technologies, Inc. (NASDAQ:NSTG) Short Interest Up 31.2% in April

NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) saw a large growth in short interest in April. As of April 30th, there was short interest totalling 3,620,000 shares, a growth of 31.2% from the April 15th total of 2,760,000 shares. Approximately 8.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 736,200 shares, the short-interest ratio is presently 4.9 days.

In other news, CEO R Bradley Gray sold 9,667 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $33.06, for a total transaction of $319,591.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO K Thomas Bailey sold 2,110 shares of the company’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $27.81, for a total value of $58,679.10. The disclosure for this sale can be found here. Insiders sold a total of 33,864 shares of company stock worth $1,054,146 in the last three months. Company insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NSTG. Russell Investments Group Ltd. raised its position in NanoString Technologies by 33.6% during the third quarter. Russell Investments Group Ltd. now owns 4,400 shares of the biotechnology company’s stock valued at $211,000 after acquiring an additional 1,107 shares in the last quarter. Swiss National Bank raised its position in NanoString Technologies by 2.9% during the third quarter. Swiss National Bank now owns 99,900 shares of the biotechnology company’s stock valued at $4,796,000 after acquiring an additional 2,800 shares in the last quarter. Principal Financial Group Inc. raised its position in NanoString Technologies by 3.2% during the third quarter. Principal Financial Group Inc. now owns 17,819 shares of the biotechnology company’s stock valued at $855,000 after acquiring an additional 554 shares in the last quarter. BlackRock Inc. raised its position in NanoString Technologies by 0.7% during the third quarter. BlackRock Inc. now owns 4,448,719 shares of the biotechnology company’s stock valued at $213,583,000 after acquiring an additional 31,220 shares in the last quarter. Finally, Barclays PLC raised its position in NanoString Technologies by 125.8% during the third quarter. Barclays PLC now owns 41,485 shares of the biotechnology company’s stock valued at $1,992,000 after acquiring an additional 23,112 shares in the last quarter.

Shares of NASDAQ NSTG traded down $1.38 during mid-day trading on Monday, reaching $15.35. The company had a trading volume of 31,475 shares, compared to its average volume of 742,562. The stock has a fifty day moving average of $26.67 and a two-hundred day moving average of $34.65. The company has a debt-to-equity ratio of 1.55, a quick ratio of 7.60 and a current ratio of 7.81. The company has a market capitalization of $712.42 million, a price-to-earnings ratio of -5.55 and a beta of 1.98. NanoString Technologies has a 12-month low of $13.52 and a 12-month high of $70.40.

NanoString Technologies (NASDAQ:NSTGGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.33). The company had revenue of $31.08 million during the quarter, compared to analysts’ expectations of $30.95 million. NanoString Technologies had a negative return on equity of 68.57% and a negative net margin of 87.89%. NanoString Technologies’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned ($0.62) earnings per share. Sell-side analysts forecast that NanoString Technologies will post -2.64 earnings per share for the current fiscal year.

A number of analysts have commented on NSTG shares. Robert W. Baird reduced their price objective on shares of NanoString Technologies from $35.00 to $30.00 in a research note on Wednesday, May 11th. StockNews.com started coverage on shares of NanoString Technologies in a research note on Thursday, March 31st. They set a “sell” rating for the company. Cowen reduced their price objective on shares of NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Canaccord Genuity Group reduced their price objective on shares of NanoString Technologies from $50.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th. Finally, Zacks Investment Research lowered shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.00.

About NanoString Technologies (Get Rating)

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research 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.

See Also

Receive News & Ratings for NanoString Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies and related companies with MarketBeat.com's FREE daily email newsletter.