Is NanoString Technologies Inc. (NASDAQ: NSTG) Back In The Buying Zone?


    Morgan Stanley Investment Managem. recently announced the acquisition of new stake in NanoString Technologies Inc. (NASDAQ:NSTG). The institutional investor has increased its shareholding in the Healthcare company by 0.30% to 4.2 million shares with purchase of 12517.0 shares. This fresh investment now brings its stake to 11.13% valued currently at $128.19 million. In addition, Fidelity Management & Research Co. raised its holdings by 3.0 million to 3.0 million shares. And Wellington Management Co. LLP has lifted its position by 265.90% or 1.86 million shares – to 2.56 million shares.

    With over 0.4 million NanoString Technologies Inc. (NSTG) shares trading Thursday and a closing price of $36.07 on the day, the dollar volume was approximately $14.27 million. The shares have shown a positive weekly performance of 11.46% and its price on 07/09/20 lost nearly -3.94%. Currently, there are 37.73M common shares owned by the public and among those 37.45M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for NSTG have a consensus price objective of $35.40. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $34.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NanoString Technologies Inc. stock is 1.80 for the next 12 months. The average price target is -1.61% below its last price level and a downside to the estimated low will see the stock lose -6.09% over that period. But an upside of 5.08% will see the stock hit the forecast high price target while mean target price for the stock is $35.00.

    Insiders at the company have transacted a total of 147 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 77 of these insider trades were purchases, accounting for 630,294 shares. Insider sales of the common stock occurred on 70 occasions, with total insider shares sold totaling 538,481 shares.

    The top 3 mutual fund holders in NanoString Technologies Inc. are Nikko AM Global Umbrella Fund – A, ARK Innovation ETF, and Morgan Stanley Insight Fund. Nikko AM Global Umbrella Fund – A owns 3.02 million shares of the company’s stock, all valued at over $92.3 million. The company bought an additional 2.99 million shares recently to bring their total holdings to about 8.01% of the shares outstanding. ARK Innovation ETF has total holdings of 2.66 million shares valued at over $81.19 million and representing 7.05% of the shares outstanding. Morgan Stanley Insight Fund has total holdings to over 2.18 million shares at a value of $66.68 million. Morgan Stanley Insight Fund now owns shares totaling to 5.79% of the shares outstanding.

    Shares of NanoString Technologies Inc. (NASDAQ: NSTG) opened at $37.49, down -$0.06 from a prior closing price of $37.55. However, the script later closed the day at $36.07, down -3.94%. The company’s stock has a 5-day price change of 11.46% and 33.99% over the past three months. NSTG shares are trading 29.65% year to date (YTD), with the 12-month market performance up to 27.05% higher. It has a 12-month low price of $13.85 and touched a high of $38.40 over the same period. Currently, 0.4 million shares have been traded, compared to an average intraday trading volume of 488.63K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.94%, 14.66%, and 30.28% respectively.

    Institutional ownership of NanoString Technologies Inc. (NASDAQ: NSTG) shares is 37.73M shares outstanding. Mutual fund holders own 40.28%, while other institutional holders and individual stakeholders account for 63.89% and 18.13% respectively.

    It has a market capitalization of $1.26B and a beta (3y monthly) value of 1.29. The stock’s earnings-per-share (ttm) stands at -$1.59. The company has a Quick Ratio of 8.30 with the debt-to-equity ratio at 1.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.12% over the week and 5.68% over the month.

    Analysts forecast that NanoString Technologies Inc. (NSTG) will achieve an EPS of -$0.52 for the current quarter, -$0.47 for the next quarter and -$1.94 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.79 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was -$0.57 a year ago. Earnings per share for the fiscal year are expected to increase by 57.60%, and 22.10% over the next financial year. EPS over the next five years should compared to 15.90% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate NanoString Technologies Inc. (NSTG) as a “Strong Buy” at a consensus score of 1.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the NSTG, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on November 15, 2019. UBS coverage for the NanoString Technologies Inc. (NSTG) stock in a research note released on October 09, 2018 offered a Buy rating with a price target of. Janney was of a view on October 12, 2017 that the stock is Neutral, while Morgan Stanley gave the stock Equal-Weight rating on April 20, 2017. Robert W. Baird on their part issued Outperform rating on December 11, 2013.


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