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.
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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
Schedule 13G
(Rule 13d-102)
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.
(Name of
Issuer)
Common Stock
(Title of
Class of Securities)
63009R109
(CUSIP Number)
July 7, 2016
(Date of
Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
| ¨ | Rule 13d-1(b) | |
| x | Rule 13d-1(c) | |
| ¨ | Rule 13d-1(d) |
*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
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Page 2 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 2 of 11 |
| 1. | NAME OF REPORTING PERSONS Foresite Capital Fund II, L.P. (“FCF II”) | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) x | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 727,857 shares, except that Foresite Capital Management II, LLC (“FCM II”), the general partner | |
| 6. | SHARED VOTING POWER See response to row 5. | ||
| 7. | SOLE DISPOSITIVE POWER 727,857 shares, except that FCM II, the general partner of FCF II, may be deemed to have sole power to | ||
| 8. | SHARED DISPOSITIVE POWER See response to row 7. | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 727,857 |
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | o |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW | 3.7% |
| 12. | TYPE OF REPORTING PERSON | PN |
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Page 3 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 3 of 11 |
| 1. | NAME OF REPORTING PERSONS Foresite Capital Management II, LLC (“FCM II”) | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) x | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 727,857 SHARES, all of which are directly owned by Foresite Capital Fund II, L.P. (“FCF II”). | |
| 6. | SHARED VOTING POWER See response to row 5. | ||
| 7. | SOLE DISPOSITIVE POWER 727,857 shares, all of which are directly owned by FCF II. FCM II, the general partner of FCF II, may | ||
| 8. | SHARED DISPOSITIVE POWER See response to row 7. | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 727,857 |
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | o |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW | 3.7% |
| 12. | TYPE OF REPORTING PERSON | OO |
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Page 4 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 4 of 11 |
| 1. | NAME OF REPORTING PERSONS Foresite Capital Fund III, L.P. (“FCF III”) | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) x | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 434,500 shares, except that Foresite Capital Management III, LLC (“FCM III”), the general | |
| 6. | SHARED VOTING POWER See response to row 5. | ||
| 7. | SOLE DISPOSITIVE POWER 434,500 shares, except that FCM III, the general partner of FCF III, may be deemed to have sole power | ||
| 8. | SHARED DISPOSITIVE POWER See response to row 7. | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 434,500 |
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | o |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW | 2.2% |
| 12. | TYPE OF REPORTING PERSON | PN |
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Page 5 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 5 of 11 |
| 1. | NAME OF REPORTING PERSONS Foresite Capital Management III, LLC (“FCM III”) | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) x | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 434,500 shares, all of which are directly owned by Foresite Capital Fund III, L.P. (“FCF III”). | |
| 6. | SHARED VOTING POWER See response to row 5. | ||
| 7. | SOLE DISPOSITIVE POWER 434,500 shares, all of which are directly owned by FCF III. FCM III, the general partner of FCF III, may | ||
| 8. | SHARED DISPOSITIVE POWER See response to row 7. | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 434,500 |
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | o |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW | 2.2% |
| 12. | TYPE OF REPORTING PERSON | OO |
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Page 6 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 6 of 11 |
| 1. | NAME OF REPORTING PERSONS James Tananbaum (“Tananbaum”) | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) x | ||
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION United States | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 1,162,357 shares, of which 727,857 shares are directly owned by Foresite Capital Fund II, L.P. (“FCF | |
| 6. | SHARED VOTING POWER See response to row 5. | ||
| 7. | SOLE DISPOSITIVE POWER 1,162,357 shares, of which 727,857 shares are directly owned by FCF II, and 434,500 shares are directly | ||
| 8. | SHARED DISPOSITIVE POWER See response to row 7. | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 1,162,357 |
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | o |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW | 5.9% |
| 12. | TYPE OF REPORTING PERSON | IN |
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Page 7 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 7 of 11 |
| ITEM 1(A). | NAME OF ISSUER |
| Nanostring Technologies, Inc. (the “Issuer”) | |
| ITEM 1(B). | ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES |
| 530 Fairview Avenue North | |
| Seattle, Washington 98109 | |
| ITEM 2(A). | NAME OF PERSONS FILING |
| This Schedule is filed by Foresite Capital Fund II, L.P., a Delaware limited partnership, Foresite Capital Management II, LLC, a Delaware limited liability company, Foresite Capital Fund III, L.P., a Delaware limited partnership, Foresite Capital Management III, LLC, a Delaware limited liability company and James Tananbaum. The foregoing entities and individuals are collectively referred to as the “Reporting Persons.” | |
| ITEM 2(B). | ADDRESS OF PRINCIPAL OFFICE |
| The address for each of the Reporting Persons is: | |
| c/o Foresite Capital Management | |
| 600 Montgomery Street, Suite 4500 | |
| San Francisco, CA 94111 | |
| ITEM 2(C). | CITIZENSHIP |
| See Row 4 of cover page for each Reporting Person. | |
| ITEM 2(D). | TITLE OF CLASS OF SECURITIES |
| Common Stock | |
| ITEM 2(E). | CUSIP NUMBER |
| 63009R109 | |
| ITEM 3. | If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: |
| Not applicable. | |
| ITEM 4. | OWNERSHIP |
| The following information with respect to the ownership of the common stock of the Issuer by the persons filing this Statement is provided as of July 15, 2016: |
| (a) | Amount beneficially owned: | |
| See Row 9 of cover page for each Reporting Person. | ||
| (b) | Percent of Class: | |
| See Row 11 of cover page for each Reporting Person. |
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Page 8 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 8 of 11 |
| (c) | Number of shares as to which such person has: |
| (i) | Sole power to vote or to direct the vote: | |
| See Row 5 of cover page for each Reporting Person. | ||
| (ii) | Shared power to vote or to direct the vote: | |
| See Row 6 of cover page for each Reporting Person. | ||
| (iii) | Sole power to dispose or to direct the disposition of: | |
| See Row 7 of cover page for each Reporting Person. | ||
| (iv) | Shared power to dispose or to direct the disposition of: | |
| See Row 8 of cover page for each Reporting Person. |
| ITEM 5. | OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS |
| Not applicable. | |
| ITEM 6. | OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. |
| Under certain circumstances set forth in the limited partnership agreements of FCF II and FCF III and the limited liability company agreements of FCM II and FCM III the partners or members, as the case may be, of each of such entities may be deemed to have the right to receive dividends from, or the proceeds from the sale of, shares of the Issuer directly or indirectly owned by each such entity of which they are a partner or member. | |
| ITEM 7. | IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY |
| Not applicable. | |
| ITEM 8. | IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. |
| Not applicable | |
| ITEM 9. | NOTICE OF DISSOLUTION OF GROUP. |
| Not applicable | |
| ITEM 10. | CERTIFICATION. |
| By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. |
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Page 9 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 9 of 11 |
SIGNATURES
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: July 18, 2016
| FORESITE CAPITAL FUND II, L.P. | ||
| By: | FORESITE CAPITAL MANAGEMENT II, LLC | |
| Its: | General Partner | |
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| FORESITE CAPITAL MANAGEMENT II, LLC | ||
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| FORESITE CAPITAL FUND III, L.P. | ||
| By: | FORESITE CAPITAL MANAGEMENT III, LLC | |
| Its: | General Partner | |
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| FORESITE CAPITAL MANAGEMENT III, LLC | ||
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| JAMES TANANBAUM | ||
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
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Page 10 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 10 of 11 |
EXHIBIT INDEX
| Found on Sequentially | |
| Exhibit | Numbered Page |
| Exhibit A: Agreement of Joint Filing | 11 |
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Page 11 of 11 – SEC Filing
| CUSIP # 63009R109 | Page 11 of 11 |
exhibit A
Agreement of Joint Filing
The undersigned hereby
agree that a single Schedule 13G (or any amendment thereto) relating to the common stock of the Issuer shall be filed on behalf
of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G.
Date: July 18, 2016
| FORESITE CAPITAL FUND II, L.P. | ||
| By: | FORESITE CAPITAL MANAGEMENT II, LLC | |
| Its: | General Partner | |
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| FORESITE CAPITAL MANAGEMENT II, LLC | ||
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| FORESITE CAPITAL FUND III, L.P. | ||
| By: | FORESITE CAPITAL MANAGEMENT III, LLC | |
| Its: | General Partner | |
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| FORESITE CAPITAL MANAGEMENT III, LLC | ||
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
| Title: | Managing Member | |
| JAMES TANANBAUM | ||
| By: | /s/ James Tananbaum | |
| Name: | James Tananbaum | |
