NanoString Technologies, Inc. (NASDAQ:NSTG) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,848 shares of the biotechnology company’s stock after acquiring an additional 16,973 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NanoString Technologies were worth $2,775,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Granite Investment Partners LLC raised its holdings in NanoString Technologies by 25.3% in the first quarter. Granite Investment Partners LLC now owns 132,097 shares of the biotechnology company’s stock valued at $4,590,000 after acquiring an additional 26,692 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in NanoString Technologies by 10.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 14,350 shares of the biotechnology company’s stock valued at $490,000 after acquiring an additional 1,300 shares in the last quarter. Truist Financial Corp raised its holdings in NanoString Technologies by 33.8% in the first quarter. Truist Financial Corp now owns 11,019 shares of the biotechnology company’s stock valued at $383,000 after acquiring an additional 2,786 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in NanoString Technologies by 10.1% in the first quarter. Green Alpha Advisors LLC now owns 10,738 shares of the biotechnology company’s stock valued at $373,000 after acquiring an additional 986 shares in the last quarter. Finally, Walleye Capital LLC raised its holdings in NanoString Technologies by 74.8% in the fourth quarter. Walleye Capital LLC now owns 14,647 shares of the biotechnology company’s stock valued at $619,000 after acquiring an additional 6,270 shares in the last quarter.

NanoString Technologies Stock Performance

Shares of NSTG opened at $12.80 on Friday. The company has a current ratio of 7.81, a quick ratio of 7.11 and a debt-to-equity ratio of 1.55. The firm has a market cap of $594.12 million, a PE ratio of -4.59 and a beta of 2.00. The company’s 50 day simple moving average is $13.86 and its 200-day simple moving average is $23.92. NanoString Technologies, Inc. has a 12-month low of $11.12 and a 12-month high of $63.81.

NanoString Technologies (NASDAQ:NSTGGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.32). NanoString Technologies had a negative net margin of 87.89% and a negative return on equity of 68.57%. The firm had revenue of $31.08 million during the quarter, compared to analysts’ expectations of $30.95 million. During the same quarter last year, the business earned ($0.62) earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts predict that NanoString Technologies, Inc. will post -2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NSTG shares. Robert W. Baird dropped their price target on shares of NanoString Technologies from $35.00 to $30.00 in a research note on Wednesday, May 11th. Canaccord Genuity Group dropped their price target on shares of NanoString Technologies from $50.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 13th. Cowen set a $33.00 price target on shares of NanoString Technologies in a research note on Tuesday, July 19th. Canaccord Genuity Group dropped their price target on shares of NanoString Technologies from $50.00 to $37.00 in a research note on Wednesday, April 13th. Finally, Cowen dropped their price target on shares of NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, NanoString Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

About NanoString Technologies

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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.

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Institutional Ownership by Quarter for NanoString Technologies (NASDAQ:NSTG)

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