Jim Tananbaum‘s Foresite Capital has recently increased its stake in Nanostring Technologies Inc (NASDAQ:NSTG), lifting it to roughly 5.9% of the company’s common stock. Whereas it held 659,486 shares at the end of the first quarter, the fund has nearly doubled its stake to 1.16 million shares since, as reported in a recent filing with the Securities and Exchange Commission.
Nanostring Technologies Inc (NASDAQ:NSTG) has developed a system that provides a wide range of tools for basic research, translational medicine and in vitro diagnostics applications. So far this year, the stock chart resembles a roller coaster, with the price oscillating between $12 and $17 per share. The stock is currently trading at $13.43 per share, down by 7.1% year-to-date. Among analysts, shares have a consensus ‘buy’ rating and a consensus price target of $19.50, which represents upside potential of approximately 43%. For the second quarter, analysts have estimated the company to pull in revenue of $19.5 million and suffer a loss of $0.66 per share, with the results expected to be announced on August 3, after the close of trading.
Although Nanostring Technologies Inc (NASDAQ:NSTG) is not a very popular stock among elite hedge funds, roughly 30% of its outstanding stock was held by 12 funds in our database at the end of the first quarter, unchanged from the end of December. Jeremy Green was bullish on this stock, having boosted his fund’s holding by 38% during the first quarter. According to its latest 13F filing, Mr. Green’s Redmile Group held a little over 1.86 million shares. Eric Bannasch’s Cadian Capital also had a large stake in Nanostring Technologies, having ownership over 1.38 million shares of the company at the end of March.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Foresite Capital Fund II||727,857||727,857||727,857||3.7%|
|Foresite Capital Management II||727,857||727,857||727,857||3.7%|
|Foresite Capital Fund III||434,500||434,500||434,500||2.2%|
|Foresite Capital Management III||434,500||434,500||434,500||2.2%|
|James Tananbaum ( Tananbaum )||1,162,357||1,162,357||1,162,357||5.9%|
Page 1 of 11 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULES 13d-1 (b), (c) AND (d)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b)
(Amendment No. ___________)*
Nanostring Technologies, Inc.
July 7, 2016
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
*The remainder of this cover page shall be filled out for a
reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
(Continued on following pages)
Page 1 of 11
Exhibit Index on Page 10