State Board of Administration of Florida Retirement System cut its position in NanoString Technologies, Inc. (NASDAQ:NSTG) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,355 shares of the biotechnology company’s stock after selling 3,080 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in NanoString Technologies were worth $1,206,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in NanoString Technologies during the 4th quarter valued at approximately $47,000. Penserra Capital Management LLC increased its stake in shares of NanoString Technologies by 211.7% during the fourth quarter. Penserra Capital Management LLC now owns 1,010 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 686 shares during the period. Nisa Investment Advisors LLC raised its holdings in NanoString Technologies by 16.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 200 shares in the last quarter. Strs Ohio purchased a new position in NanoString Technologies during the fourth quarter worth about $140,000. Finally, Truvestments Capital LLC acquired a new position in NanoString Technologies during the 4th quarter worth approximately $170,000.
Shares of NASDAQ:NSTG opened at $59.81 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 14.10 and a quick ratio of 13.38. The stock has a market capitalization of $2.70 billion, a P/E ratio of -24.61 and a beta of 1.71. NanoString Technologies, Inc. has a 52-week low of $28.50 and a 52-week high of $86.42. The firm has a fifty day moving average of $63.20.
In related news, Director Robert Hershberg sold 1,500 shares of the company’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $66.94, for a total value of $100,410.00. Following the completion of the transaction, the director now directly owns 3,390 shares in the company, valued at $226,926.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Bradley Gray sold 33,333 shares of the stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $52.94, for a total value of $1,764,649.02. Following the transaction, the chief executive officer now owns 189,743 shares in the company, valued at $10,044,994.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,655 shares of company stock worth $6,268,326. Corporate insiders own 4.20% of the company’s stock.
NSTG has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on NanoString Technologies from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 11th. JPMorgan Chase & Co. increased their price target on shares of NanoString Technologies from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, March 2nd. Zacks Investment Research upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 14th. Finally, Robert W. Baird boosted their target price on NanoString Technologies from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NanoString Technologies currently has a consensus rating of “Buy” and an average target price of $70.17.
NanoString Technologies Profile
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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