NanoString Technologies Inc. [NSTG] Investment Guide: What You Need to Know


NanoString Technologies Inc.’s filing revealed that its Chief Financial Officer Bailey K Thomas acquired Company’s shares for reported $86445.0 on May 26. In the deal valued at $5.76 per share,15,000 shares were bought. As a result of this transaction, Bailey K Thomas now holds 75,388 shares worth roughly $ 0.13 million.

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Then, GRAY R BRADLEY bought 30,000 shares, generating $174,000 in total proceeds. Upon buying the shares at $5.80, the President and CEO now owns 338,395 shares.

Before that, YOUNG WILLIAM bought 35,400 shares. NanoString Technologies Inc. shares valued at $201,511 were divested by the Director at a price of $5.69 per share. As a result of the transaction, YOUNG WILLIAM now holds 46,700 shares, worth roughly $79390.0.

PT values the company’s stock at a premium of 90.56 to its Monday closing price.

Price Performance Review of NSTG

On Monday, NanoString Technologies Inc. [NASDAQ:NSTG] saw its stock remained unchanged to $1.70. On the same session, the stock had its day’s lowest price of $1.69, but rose to a high of $1.99. Over the last five days, the stock has gained 1.80%. NanoString Technologies Inc. shares have fallen nearly -78.67% since the year began. Nevertheless, the stocks have fallen -89.19% over the past one year. While a 52-week high of $15.44 was reached on 02/02/23, a 52-week low of $1.61 was recorded on 09/12/23. SMA at 50 days reached $3.2441, while 200 days put it at $7.0642. A total of 2.68 million shares were traded, compared to the trading of 1.21 million shares in the previous session.

Levels Of Support And Resistance For NSTG Stock

The 24-hour chart illustrates a support level at 1.5967, which if violated will result in even more drops to 1.4933. On the upside, there is a resistance level at 1.8967. A further resistance level may holdings at 2.0933. The Relative Strength Index (RSI) on the 14-day chart is 28.43, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.3477, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.16%. Stochastics %K at 9.31% indicates the stock is a buying.

How much short interest is there in NanoString Technologies Inc.?

A steep rise in short interest was recorded in NanoString Technologies Inc. stocks on Aug 30, 2023, growing by 1.22 million shares to a total of 7.38 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 6.16 million shares. There was a rise of 16.53%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.72% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.09.

NanoString Technologies Inc. [NSTG] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,975,756 shares, or roughly 8.36% of the outstanding NSTG shares. In other words, the investor’s shares have risen by 296,272 from its previous 13-F filing of 3679484.0. Additionally, Polar Capital LLP decreased -0.62% of its stake after which the total value it holdings stand at $10,176,000, while Prosight Management LP added 57.50% of its stake to hold $8.06 million in the firm. At present, Avidity Partners Management LP is holding 2,700,400 shares valued at $6.91 million. The Vanguard Group, Inc. owned 2,699,740 shares of the company at the time of its most recent 13F filing, worth $6.91 million.

According to FactSet, NanoString Technologies Inc.’s share price will average $12.86 in the next year, based on opinions of analysts polled by the firm. This is up nearly 488.24 percent from its previous closing price of $1.70. Analysts expect NanoString Technologies Inc. stock to reach the higher price of $24.00, while the lowest price estimate is $7.00. However, 7 analysts have rated NSTG stock as a Buy in their predictions for 2023.


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