NanoString Tech slumps on dour Q1 prelim sales

NS Wind Down Co

12/04/2022 23:06

** Medical equipment maker NanoString Technologies' shares
 NSTG.O  fall nearly 31% to $22.85 in after-market trade
    ** Co reports preliminary product and service revenue of $31
million for Q1, but says it "fell short of our expectation"
 urn:newsml:reuters.com:*:nBw8sBj6La
    ** CEO Brad Gray says Q1 revenue may have been hit by
"uneven sales execution" and "impact of changes made to re-align
our expanded commercial team early in the year"
    ** Five of six brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $51
    ** Up to Tuesday's close, stock had fallen 22% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))