RA Capital Management LP has recently announced that it has increased stake in NanoString Technologies Inc. (NASDAQ:NSTG) by 28.40%. After grabbing 4.6 million shares, the institutional investor is now in possession of 1.02 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.90% having worth around $48.14 million. Moreover, Polar Capital LLP increased its share by 0.55 million to have a control over 2.58 million shares. And Pura Vida Investments LLC raised its holdings to 1.61 million shares by acquiring 2.37 million shares or 5.10% of the stake.
NanoString Technologies Inc. (NSTG) concluded trading on 11/23/22 at a closing price of $6.49, with 0.47 million shares of worth about $3.02 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -58.79% during that period and on Wednesday the price saw a loss of about -0.76%. Currently the company’s common shares owned by public are about 46.53M shares, out of which, 46.24M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the NSTG stock and their offered price forecasts bring an average price target of $17.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $24.00 and could fall to a lowest price of $14.00. The stock’s current price level is 61.82% above of average price target set by the analysts, while a rise to estimated low would result in gain of 53.64% for the stock. However, touching the estimated high of $24.00 would mean a gain of 72.96% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 48 times over the past 12 months. They bought 171,923 shares in 28 of the transactions. In 20 selling transactions, insiders dumped 104,611 shares.
Fidelity OTC Portfolio, Polar Capital Funds Plc – Biotech, and Alger Funds – Small Cap Focus Fun are the top 3 mutual funds which are holding stakes in NanoString Technologies Inc. Fidelity OTC Portfolio is currently holding 2.43 million shares of worth totaling $25.4 million. The company recently came buying 0.0 shares which brought its stake up to 5.22% of the company’s outstanding shares. Polar Capital Funds Plc – Biotech bought 0.45 million shares, after which its hold over company’s outstanding shares expand to 4.84%, leaving 2.25 million shares with the mutual fund that have a worth of about $23.54 million. Alger Funds – Small Cap Focus Fun, after buying 1.8 million shares, have now control over 3.88% of the stake in the company. It holds 0.0 shares of worth $18.87 million.
NanoString Technologies Inc. (NASDAQ: NSTG) started trading at $6.52, below -$0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 6.77, or with a loss of -0.76%. Stock saw a price change of -9.10% in past 5 days and over the past one month there was a price change of -37.89%. Year-to-date (YTD), NSTG shares are showing a performance of -84.63% which decreased to -84.69% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.37 but also hit the highest price of $43.81 during that period. The average intraday trading volume for NanoString Technologies Inc. shares is 1.07 million. The stock is currently trading -22.57% below its 20-day simple moving average (SMA20), while that difference is down -39.58% for SMA50 and it goes to -64.54% lower than SMA200.
RA Capital Management LP acquired 4.6 million shares of NanoString Technologies Inc. having value of about $48.14 million. Data submitted at the U.S SEC by RA Capital Management LP revealed that the firm now holds 1.02 million shares in the company valued at close to $6606820.0, or have control over 28.40% stake in the company. Holding of mutual funds in the company is about 55.26% while other institutional holders and individual stake holders have control over 57.40% and 15.07% of the stake respectively.
The stock has a current market capitalization of $298.67M and its 3Y-monthly beta is at 1.69. It has posted earnings per share of -$3.13 in the same period. It has Quick Ratio of 5.40 while making debt-to-equity ratio of 2.73. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NSTG, volatility over the week remained 7.26% while standing at 12.85% over the month.
Analysts are in expectations that NanoString Technologies Inc. (NSTG) stock would likely to be making an EPS of -$0.51 in the current quarter, while forecast for next quarter EPS is -$0.46 and it is -$2.01 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.62 which is -$0.36 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.69 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 9.70% while it is estimated to increase by 30.90% in next year.
Analysts at 6 brokerage firms have issued recommendations for the NanoString Technologies Inc. (NSTG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 6 Wall Street analysts, 4 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Canaccord Genuity on March 24, 2022 offering a Buy rating for the stock and assigned a target price of $50 to it. Coverage by Cowen stated NanoString Technologies Inc. (NSTG) stock as an Outperform in their note to investors on January 06, 2021, suggesting a price target of $75 for the stock. Stock get a Buy rating from UBS on October 09, 2018.