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Wednesday, May 25, 2022

NanoString Technologies, Inc. (NSTG) Stock Sinking Deep Premarket Following Q1 2022 Preliminary Financials.

NanoString Technologies, Inc. (NSTG) is a leader in providing life science devices for the research purposes to map the biological universe, one being the nCounter Analysis System. Its shares dropped by 2.17% to remain at $32.9 at the closing of Tuesday’s regular trading. Its price jumped further dwindled by 35.1% in Wednesday’s premarket trading. The current stock price as of the writing stands at $21.3.


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NSTG: Recent Developments

NSTG released its preliminary first-quarter 2022 unaudited financials and recorded the following observations during the quarter

  • The product and service revenue of the company was approximately $31 million, which did not meet the management’s and analysts’ estimations.
  • GeoMx Digital Spatial Profiler revenue was observed to be $10 million
  • nCounter revenue was noted to be up to $21 million, and
  • The company generated 15 CosMx SMI systems orders, thus bringing total orders to 35 systems.

NSTG: Industry Outlook

The Life Sciences tools and services industry is ever-increasing at a steady pace. With the increasing adoption of policies by notable players, this industry is estimated to grow over the anticipated horizon. Recently, many businesses in this sector were at a three-month relative slump. The market’s important insights have been presented through SWOT and Porter’s Five Forces analysis frameworks as well as the market attractiveness is represented by net sales, distribution pathway, type of the product, and location.

NSTG: Company Outlook

NSTG’s one-year price range stands at $26.5-$81.9 with a huge market cap of $1.51 billion. The company launched the nCounter Pro Analysis System on April 7, which is a next-generation instrument portfolio. It requires negligible bioinformatics support and a costly menu to sustain biomanufacturing research.

Conclusion

NSTG stock worked well in the last months as its shares price increased by 18% during the span. The company is continuously plunging in today’s premarket as the revenue of the first quarter fell short of the company’s expectations. The company remained steadfast in its long-term prospects.

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