NanoString Technologies (NASDAQ:NSTG) Stock Price Passes Below Two Hundred Day Moving Average of $3.98

NanoString Technologies, Inc. (NASDAQ:NSTG)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.98 and traded as low as $1.27. NanoString Technologies shares last traded at $1.29, with a volume of 885,021 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of NanoString Technologies from $7.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, October 12th. Robert W. Baird decreased their target price on shares of NanoString Technologies from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Morgan Stanley decreased their target price on shares of NanoString Technologies from $14.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 24th. StockNews.com started coverage on shares of NanoString Technologies in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $10.00 target price on shares of NanoString Technologies in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.63.

NanoString Technologies Stock Down 8.2 %

The company has a current ratio of 3.55, a quick ratio of 2.76 and a debt-to-equity ratio of 16.67. The stock has a market capitalization of $61.34 million, a P/E ratio of -0.37 and a beta of 1.67. The stock’s 50 day simple moving average is $1.63 and its 200 day simple moving average is $3.98.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in NanoString Technologies by 4.8% during the 2nd quarter. BlackRock Inc. now owns 4,988,286 shares of the biotechnology company’s stock valued at $20,203,000 after acquiring an additional 228,780 shares during the last quarter. Blue Water Life Science Advisors LP bought a new position in shares of NanoString Technologies in the 2nd quarter worth about $11,044,000. Platinum Investment Management Ltd. lifted its position in shares of NanoString Technologies by 104.7% in the 3rd quarter. Platinum Investment Management Ltd. now owns 2,285,137 shares of the biotechnology company’s stock worth $3,930,000 after buying an additional 1,168,745 shares during the last quarter. Prosight Management LP bought a new position in shares of NanoString Technologies in the 2nd quarter worth about $8,100,000. Finally, Invesco Ltd. lifted its position in shares of NanoString Technologies by 2.7% in the 1st quarter. Invesco Ltd. now owns 1,655,562 shares of the biotechnology company’s stock worth $57,531,000 after buying an additional 44,127 shares during the last quarter.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures, and sells technology for scientific and clinical information 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.