Fintel reports that on August 4, 2023, Baird maintained coverage of Nanostring Technologies (NASDAQ:NSTG) with a Outperform recommendation.
Analyst Price Forecast Suggests 334.12% Upside
As of August 1, 2023, the average one-year price target for Nanostring Technologies is 16.76. The forecasts range from a low of 13.13 to a high of $25.20. The average price target represents an increase of 334.12% from its latest reported closing price of 3.86.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nanostring Technologies is 178MM, an increase of 23.90%. The projected annual non-GAAP EPS is -2.16.
What is the Fund Sentiment?
There are 319 funds or institutions reporting positions in Nanostring Technologies. This is a decrease of 38 owner(s) or 10.64% in the last quarter. Average portfolio weight of all funds dedicated to NSTG is 0.06%, a decrease of 7.47%. Total shares owned by institutions decreased in the last three months by 5.75% to 48,393K shares. 
The put/call ratio of NSTG is 0.19, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 4,916K shares representing 10.39% ownership of the company. In it's prior filing, the firm reported owning 6,454K shares, representing a decrease of 31.27%. The firm decreased its portfolio allocation in NSTG by 6.48% over the last quarter.
Polar Capital Holdings holds 4,000K shares representing 8.45% ownership of the company. In it's prior filing, the firm reported owning 3,779K shares, representing an increase of 5.53%. The firm increased its portfolio allocation in NSTG by 20.25% over the last quarter.
Ra Capital Management holds 2,457K shares representing 5.19% ownership of the company. In it's prior filing, the firm reported owning 144K shares, representing an increase of 94.14%. The firm increased its portfolio allocation in NSTG by 2,267.61% over the last quarter.
Avidity Partners Management holds 2,217K shares representing 4.68% ownership of the company. In it's prior filing, the firm reported owning 2,057K shares, representing an increase of 7.21%. The firm increased its portfolio allocation in NSTG by 105.11% over the last quarter.
D. E. Shaw holds 1,914K shares representing 4.04% ownership of the company. In it's prior filing, the firm reported owning 1,754K shares, representing an increase of 8.35%. The firm increased its portfolio allocation in NSTG by 3.38% over the last quarter.
Nanostring Technologies Background Information
(This description is provided by the company.)
NanoString Technologies is a leading provider of life science tools for discovery and translational research. The company’s nCounter® Analysis System is used in life sciences research and has been cited in more than 4,000 peer-reviewed publications. The nCounter Analysis System offers a cost-effective way to easily profile the expression of hundreds of genes, proteins, miRNAs, or copy number variations, simultaneously with high sensitivity and precision, facilitating a wide variety of basic research and translational medicine applications, including biomarker discovery and validation. The company’s GeoMx® Digital Spatial Profiler enables highly-multiplexed spatial profiling of RNA and protein targets in a variety of sample types, including FFPE tissue sections.
Additional reading:
- Press release dated
- 2018 Inducement Equity Incentive Plan, as amended
- NanoString Provides Preliminary Financial and Operational Highlights for Second Quarter of 2023 - Record Q2 Revenue of Over $44 Million, 37% Year on Year Growth and Above Upper End of Q2 Guidance Range - - New Orders for CosMx Instruments Grew Sequen
- Amended and Restated 2022 Equity Incentive Plan.
- 2018 Inducement Equity Incentive Plan, as amended.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
