NanoString Technologies, Inc. (NASDAQ:NSTG) Receives $7.63 Average Price Target from Brokerages

NanoString Technologies, Inc. (NASDAQ:NSTG) has been given an average rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.63.

Separately, StockNews.com assumed coverage on NanoString Technologies in a research note on Sunday, March 24th. They issued a “sell” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in NanoString Technologies by 4.8% during the second quarter. BlackRock Inc. now owns 4,988,286 shares of the biotechnology company’s stock valued at $20,203,000 after purchasing an additional 228,780 shares during the period. Vanguard Group Inc. grew its holdings in NanoString Technologies by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 3,789,691 shares of the biotechnology company’s stock valued at $2,836,000 after purchasing an additional 219,832 shares during the period. Platinum Investment Management Ltd. grew its holdings in NanoString Technologies by 21.5% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,775,853 shares of the biotechnology company’s stock valued at $2,077,000 after purchasing an additional 490,716 shares during the period. Blue Water Life Science Advisors LP bought a new position in NanoString Technologies during the second quarter valued at $11,044,000. Finally, Acadian Asset Management LLC grew its holdings in NanoString Technologies by 93.3% during the third quarter. Acadian Asset Management LLC now owns 2,003,708 shares of the biotechnology company’s stock valued at $3,444,000 after purchasing an additional 967,219 shares during the period.

NanoString Technologies Price Performance

The firm has a market cap of $5.07 million, a P/E ratio of -0.03 and a beta of 1.24. The company has a 50-day simple moving average of $0.40 and a 200-day simple moving average of $1.18. NanoString Technologies has a 52 week low of $0.05 and a 52 week high of $11.78.

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.