Russell Investments Group Ltd. Buys 42,772 Shares of NanoString Technologies Inc (NASDAQ:NSTG)

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Russell Investments Group Ltd. lifted its stake in shares of NanoString Technologies Inc (NASDAQ:NSTG) by 616.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 49,708 shares of the biotechnology company’s stock after acquiring an additional 42,772 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of NanoString Technologies worth $1,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its position in NanoString Technologies by 133.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock worth $722,000 after purchasing an additional 13,610 shares during the period. ARK Investment Management LLC raised its position in NanoString Technologies by 7.3% in the 1st quarter. ARK Investment Management LLC now owns 3,476,526 shares of the biotechnology company’s stock worth $83,193,000 after purchasing an additional 237,834 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in NanoString Technologies by 101.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock worth $28,718,000 after purchasing an additional 477,313 shares during the period. Wells Fargo & Company MN raised its position in NanoString Technologies by 210.7% in the 2nd quarter. Wells Fargo & Company MN now owns 301,166 shares of the biotechnology company’s stock worth $9,140,000 after purchasing an additional 204,224 shares during the period. Finally, Neuberger Berman Group LLC raised its position in NanoString Technologies by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 1,229,541 shares of the biotechnology company’s stock worth $29,413,000 after purchasing an additional 9,662 shares during the period. 99.85% of the stock is owned by institutional investors.

In other NanoString Technologies news, Director William Young sold 24,125 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $25.29, for a total value of $610,121.25. Following the transaction, the director now owns 54,125 shares in the company, valued at $1,368,821.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mary Tedd Allen sold 64,333 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.90, for a total transaction of $1,923,556.70. Following the completion of the transaction, the senior vice president now owns 55,433 shares in the company, valued at approximately $1,657,446.70. The disclosure for this sale can be found here. Insiders sold 185,211 shares of company stock worth $5,008,655 in the last 90 days. Corporate insiders own 5.10% of the company’s stock.

A number of brokerages recently commented on NSTG. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.25.

NASDAQ:NSTG traded up $1.75 during trading hours on Friday, reaching $24.35. The company’s stock had a trading volume of 433,953 shares, compared to its average volume of 537,662. The firm has a 50-day simple moving average of $24.86 and a 200-day simple moving average of $26.70. NanoString Technologies Inc has a 1 year low of $13.26 and a 1 year high of $34.78. The company has a debt-to-equity ratio of 1.27, a current ratio of 5.21 and a quick ratio of 4.76.

NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.02). NanoString Technologies had a negative net margin of 68.16% and a negative return on equity of 118.03%. The firm had revenue of $30.35 million during the quarter, compared to analysts’ expectations of $29.00 million. Research analysts anticipate that NanoString Technologies Inc will post -2.35 earnings per share for the current year.

NanoString Technologies Company Profile

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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

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