ExodusPoint Capital Management LP Grows Holdings in NanoString Technologies, Inc. (NASDAQ:NSTG)

Posted by Defense World Staff on Sep 4th, 2023

ExodusPoint Capital Management LP raised its position in shares of NanoString Technologies, Inc. (NASDAQ:NSTG – Free Report) by 216.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,309 shares of the biotechnology company’s stock after purchasing an additional 89,082 shares during the quarter. ExodusPoint Capital Management LP owned 0.28% of NanoString Technologies worth $1,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Middle East FZE bought a new position in NanoString Technologies in the 4th quarter worth $29,000. Point72 Hong Kong Ltd bought a new stake in NanoString Technologies during the 2nd quarter valued at approximately $57,000. Advisor Group Holdings Inc. boosted its stake 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 worth $162,000 after purchasing an additional 800 shares during the period. Natixis purchased a new stake in NanoString Technologies during the 4th quarter valued at approximately $39,000. Finally, Tower Research Capital LLC TRC grew its holdings in NanoString Technologies by 181.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,705 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 3,678 shares in the last quarter.

NanoString Technologies Stock Performance

NASDAQ NSTG opened at $2.58 on Monday. The business’s 50 day moving average price is $3.66 and its 200-day moving average price is $6.61. NanoString Technologies, Inc. has a fifty-two week low of $2.54 and a fifty-two week high of $16.47. The company has a debt-to-equity ratio of 16.67, a current ratio of 3.55 and a quick ratio of 2.76.

NanoString Technologies (NASDAQ:NSTG – Get Free Report) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.22). The firm had revenue of $44.16 million during the quarter, compared to the consensus estimate of $42.45 million. NanoString Technologies had a negative return on equity of 548.25% and a negative net margin of 115.14%. NanoString Technologies’s revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.85) EPS. On average, analysts forecast that NanoString Technologies, Inc. will post -2.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NSTG. StockNews.com began coverage on shares of NanoString Technologies in a research report on Thursday, August 17th. They set a “sell” rating for the company. Robert W. Baird cut their price objective on NanoString Technologies from $13.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Morgan Stanley decreased their target price on NanoString Technologies from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, NanoString Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $16.83.

Check Out Our Latest Analysis on NSTG

NanoString Technologies Profile

(Free Report)

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.