On September 7, 2023, Wellington Management Group LLP announced a significant reduction in its investment in NanoString Technologies, Inc. According to the Securities and Exchange Commission (SEC) filing, the company decreased its position by 23.8% during the first quarter of the year. This move resulted in the sale of 1,537,465 shares of NanoString Technologies’ stock. After this transaction, Wellington Management Group LLP now owns 4,916,409 shares in the biotechnology firm.
At the end of the most recent quarter, Wellington Management Group LLP’s stake in NanoString Technologies was valued at $48,672,000. With this reduced position, Wellington Management Group LLP now accounts for approximately 10.39% ownership in NanoString Technologies. This change highlights an adjustment in investment strategy and portfolio allocations.
NanoString Technologies develops and manufactures advanced technology for scientific and clinical information within genomics and proteomics fields. Its operations span across multiple regions including the Americas, Europe, the Middle East, and the Asia Pacific region. The company’s flagship product is the nCounter Analysis System: an automated, multi-application digital detection and counting system.
This strategic decision by Wellington Management Group LLP may indicate a shift in their confidence or interest towards NanoString Technologies. Investors closely monitoring these developments will likely consider various factors influencing such decisions as they assess their own investment strategies.
As with any investment decision involving publicly traded companies like NanoString Technologies, thorough analysis is essential to understand both short-term implications as well as long-term potential for growth and profitability. Investors may find valuable insights by referring to our latest research report on NanoString Technologies to gain a deeper understanding of its business model and market position.
While this filing reveals current information about Wellington Management Group LLP’s position adjustments within NanoString Technologies , it remains important for investors to regularly monitor further developments pertaining to both parties involved as well as overall market conditions impacting this sector.
Cedar Fair, L.P.
Updated on: 29/11/2023
Debt to equity ratio: Strong Sell
Price to earnings ratio: Buy
Price to book ratio: Strong Sell
DCF: Strong Buy
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Institutional Investors and Analysts Assess NanoString Technologies (NSTG): Recent Activity, Ratings, and Challenges
Institutional investors have been actively buying and selling shares of NanoString Technologies (NSTG) in recent times. Advisor Group Holdings Inc. increased its holdings in the biotechnology company by 21.1% during the 1st quarter, acquiring an additional 800 shares, which brought its total ownership to 4,595 shares worth $162,000. Similarly, JPMorgan Chase & Co. raised its holdings in NSTG by 38.1% during the same period, acquiring an additional 23,872 shares worth $3,009,000.
Another institutional investor, AlphaCrest Capital Management LLC, entered the game with a new position in NSTG during the 1st quarter at a value of $267,000. MetLife Investment Management LLC also increased its holdings in NSTG by 57.4%, acquiring an additional 8,930 shares during the same period and bringing its total ownership to 24,478 shares worth $851,000.
Lord Abbett & CO. LLC concluded this series of institutional investors buying into NSTG by raising its holdings by 1.9% during the 1st quarter and acquiring an additional 2,542 shares worth $4,853,000.
The analysts have been closely watching this activity surrounding NSTG as well. Robert W. Baird decreased their price target on NSTG from $13 to $10 and gave it an “outperform” rating in a research report issued on August 4th. Morgan Stanley also decreased their price target from $15 to $14 with an “equal weight” rating on the stock in another research report on August 7th.
StockNews.com initiated coverage on NSTG with a “sell” rating according to their research report on August 17th. In total, one analyst has rated the stock as sell while four analysts have assigned a buy rating to NSTG.
NASDAQ opened trading on Thursday with NSTG at $2.03, and the company’s debt-to-equity ratio stands at 16.67. It has a quick ratio of 2.76 and a current ratio of 3.55. NSTG’s fifty-day moving average is $3.55, while its two-hundred-day moving average is $6.46. The stock has had a turbulent year, trading between a low of $1.92 and a high of $16.47.
NSTG recently reported its earnings results for the quarter ended August 3rd, revealing earnings per share of ($0.92), which fell short of the consensus estimate of ($0.70) by $0.22. However, the company generated revenue of $44.16 million for the quarter, surpassing analyst estimates of $42.45 million.
Unfortunately, NanoString Technologies still faces significant challenges as it continues to operate with negative net margins and return on equity figures indicating losses in those areas.
Analysts are projecting that NSTG will post earnings per share (EPS) of -2.73 for the current year based on their sell-side estimations.
Overall, NSTG remains an intriguing company within the biotechnology sector due to the recent activity from institutional investors and varying opinions from analysts regarding its stock performance and potential future growth prospects.