Harbourvest Partners adds NanoString Technologies Inc (NSTG) to its portfolio

NanoString Technologies Inc (NSTG) : Harbourvest Partners added new position in NanoString Technologies Inc during the most recent quarter end. The investment management firm now holds 27,992 shares of NanoString Technologies Inc which is valued at $461,028 , the company said in a statement filed on Aug 15, 2016 with the SEC.NanoString Technologies Inc makes up approximately 0.20% of Harbourvest Partners’s portfolio.

Other Hedge Funds, Including , Bridgeway Capital Management Inc reduced its stake in NSTG by selling 200 shares or 1.64% in the most recent quarter. The Hedge Fund company now holds 12,000 shares of NSTG which is valued at $197,640. Levin Capital Strategies added NSTG to its portfolio by purchasing 16,000 company shares during the most recent quarter which is valued at $263,520. Lord Abbett added NSTG to its portfolio by purchasing 257,567 company shares during the most recent quarter which is valued at $4,242,128. NanoString Technologies Inc makes up approx 0.01% of Lord Abbett’s portfolio.Cadian Capital Management Lp boosted its stake in NSTG in the latest quarter, The investment management firm added 52,400 additional shares and now holds a total of 1,433,010 shares of NanoString Technologies Inc which is valued at $23,601,675. NanoString Technologies Inc makes up approx 1.23% of Cadian Capital Management Lp’s portfolio.Blackrock Investment Management boosted its stake in NSTG in the latest quarter, The investment management firm added 9,119 additional shares and now holds a total of 56,812 shares of NanoString Technologies Inc which is valued at $935,694.

NanoString Technologies Inc opened for trading at $16.11 and hit $16.54 on the upside on Thursday, eventually ending the session at $16.25, with a gain of 0.56% or 0.09 points. The heightened volatility saw the trading volume jump to 1,42,440 shares. Company has a market cap of $322 M.

On the company’s financial health, NanoString Technologies Inc reported $-0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.66. The company had revenue of $22.60 million for the quarter, compared to analysts expectations of $19.63 million. The company’s revenue was up 72.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.66 EPS.

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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