Jennison Associates LLC Sells 766,473 Shares of NanoString Technologies, Inc. (NASDAQ:NSTG)

Jennison Associates LLC decreased its position in shares of NanoString Technologies, Inc. (NASDAQ:NSTG) by 95.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 34,711 shares of the biotechnology company’s stock after selling 766,473 shares during the period. Jennison Associates LLC owned 0.14% of NanoString Technologies worth $561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. lifted its stake in shares of NanoString Technologies by 135.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 106,000 shares of the biotechnology company’s stock valued at $1,713,000 after buying an additional 61,000 shares during the period. Nationwide Fund Advisors increased its position in NanoString Technologies by 17.1% during the third quarter. Nationwide Fund Advisors now owns 48,125 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 7,027 shares during the last quarter. California State Teachers Retirement System increased its position in NanoString Technologies by 1.3% during the second quarter. California State Teachers Retirement System now owns 31,367 shares of the biotechnology company’s stock worth $519,000 after purchasing an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in NanoString Technologies by 25.2% during the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock worth $257,000 after purchasing an additional 3,132 shares during the last quarter. Finally, State Street Corp increased its position in NanoString Technologies by 13.4% during the second quarter. State Street Corp now owns 261,864 shares of the biotechnology company’s stock worth $4,332,000 after purchasing an additional 30,864 shares during the last quarter. 92.72% of the stock is currently owned by institutional investors and hedge funds.

NanoString Technologies, Inc. (NASDAQ NSTG) traded up $0.17 during midday trading on Wednesday, reaching $7.46. 254,340 shares of the company’s stock were exchanged, compared to its average volume of 205,520. NanoString Technologies, Inc. has a 12-month low of $7.20 and a 12-month high of $23.31. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.89 and a current ratio of 3.35.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.11. NanoString Technologies had a negative net margin of 44.24% and a negative return on equity of 174.55%. The firm had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.27 million. During the same period in the prior year, the firm posted ($0.51) EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. research analysts expect that NanoString Technologies, Inc. will post -1.77 EPS for the current fiscal year.

NSTG has been the subject of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $14.00 price target on shares of NanoString Technologies in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, August 10th. Cowen reissued a “buy” rating and issued a $20.00 price objective on shares of NanoString Technologies in a research report on Thursday, September 28th. Finally, Janney Montgomery Scott lowered shares of NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.25.

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NanoString Technologies Profile

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.

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

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