Federated Hermes Inc. Sells 132,672 Shares of NanoString Technologies, Inc. (NASDAQ:NSTG)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. cut its holdings in NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) by 36.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,451 shares of the biotechnology company’s stock after selling 132,672 shares during the period. Federated Hermes Inc. owned approximately 0.49% of NanoString Technologies worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Guggenheim Capital LLC increased its position in NanoString Technologies by 3.5% in the 1st quarter. Guggenheim Capital LLC now owns 19,410 shares of the biotechnology company’s stock valued at $675,000 after buying an additional 659 shares in the last quarter. LPL Financial LLC increased its position in NanoString Technologies by 3.9% in the 2nd quarter. LPL Financial LLC now owns 20,563 shares of the biotechnology company’s stock valued at $261,000 after buying an additional 779 shares in the last quarter. Advisor Group Holdings Inc. increased its position in NanoString Technologies by 21.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,595 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 800 shares in the last quarter. First Republic Investment Management Inc. increased its position in NanoString Technologies by 4.4% in the 2nd quarter. First Republic Investment Management Inc. now owns 22,393 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 953 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in NanoString Technologies by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 227,288 shares of the biotechnology company’s stock valued at $7,898,000 after buying an additional 1,033 shares in the last quarter.

Insider Transactions at NanoString Technologies

In other NanoString Technologies news, CEO R Bradley Gray bought 62,500 shares of the business’s stock in a transaction dated Monday, December 12th. The shares were purchased at an average price of $7.35 per share, for a total transaction of $459,375.00. Following the purchase, the chief executive officer now directly owns 264,837 shares of the company’s stock, valued at $1,946,551.95. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO K Thomas Bailey acquired 29,161 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were acquired at an average price of $8.05 per share, for a total transaction of $234,746.05. Following the completion of the purchase, the chief financial officer now owns 48,533 shares in the company, valued at $390,690.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Bradley Gray acquired 62,500 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The stock was purchased at an average price of $7.35 per share, for a total transaction of $459,375.00. Following the purchase, the chief executive officer now owns 264,837 shares of the company’s stock, valued at approximately $1,946,551.95. The disclosure for this purchase can be found here. Insiders have acquired 104,161 shares of company stock worth $817,121 in the last 90 days. Insiders own 2.50% of the company’s stock.

NanoString Technologies Stock Performance

Shares of NASDAQ NSTG opened at $9.22 on Friday. NanoString Technologies, Inc. has a twelve month low of $4.37 and a twelve month high of $37.06. The stock’s 50 day moving average price is $10.23 and its 200-day moving average price is $10.27. The company has a debt-to-equity ratio of 4.95, a quick ratio of 4.14 and a current ratio of 4.87.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NSTG. Morgan Stanley decreased their target price on NanoString Technologies from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, March 2nd. Canaccord Genuity Group cut their price target on NanoString Technologies from $30.00 to $14.00 in a research note on Thursday, November 10th. Finally, UBS Group began coverage on NanoString Technologies in a research note on Thursday, February 2nd. They set a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

NanoString Technologies Company Profile

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NanoString Technologies, Inc engages in the development and commercialization of instruments and services for profiling of genes and proteins from tissue sample. It offers the GeoMx Digital Spatial Profiler, nCounter Analysis System product platforms, GeoMx Assays, nCounter Panels & Assays and CosMx Spatial Molecular.