Revenue Update on NanoString Technologies Inc(NASDAQ:NSTG)

NanoString Technologies Inc(NASDAQ:NSTG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $22.63M. Analysts estimated a revenue of $19.47M. Earnings per share were $-0.55. Analysts had estimated an EPS of $-0.66.

NanoString Technologies Inc (NSTG) shares turned negative on Fridays trading session with the shares closing down -0.36 points or -2.14% at a volume of 81,243. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $16.93. The peak price level was also seen at $16.93 while the days lowest was $16.4. Finally the shares closed at $16.47. The 52-week high of the shares is $19.81 while the 52-week low is $11.3. According to the latest information available, the market cap of the company is $327 M.

Several Insider Transactions has been reported to the SEC. On Aug 14, 2015, Wayne Burns (SVP, Operations & Admin) sold 30,000 shares at $14.93 per share price.Also, On Aug 11, 2015, Barney Saunders (SVP, Sales & Marketing) sold 27,242 shares at $15.08 per share price.

NanoString Technologies Inc. is engaged in detection identification and quantification of individual target molecules in a biological sample by attaching a color coded fluorescent reporter to each target molecule of interest. The Company markets its nCounter Analysis System consisting of instruments and consumables including its Prosigna Breast Cancer Assay to academic government and biopharmaceutical and clinical laboratory customers. The Company’s nCounter Analysis System is an automated multi-application digital detection and counting system which directly profiles molecules using a barcoding technology. As of December 31 2014 the Company has an installed base of 264 systems. Prosigna the Company’s molecular diagnostic test is based on a collection of 50 genes known as the PAM50 gene signature.

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