Oxford Nanopore Technologies (LON:ONT) Shares Up 10% – Here’s What Happened

Shares of Oxford Nanopore Technologies plc (LON:ONT) traded up 10% on Friday . The stock traded as high as GBX 161.64 ($2.06) and last traded at GBX 161.64 ($2.06). 101,398,086 shares were traded during mid-day trading, an increase of 4,224% from the average session volume of 2,345,044 shares. The stock had previously closed at GBX 146.90 ($1.87).

Wall Street Analysts Forecast Growth

ONT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 190 ($2.42) price objective on shares of Oxford Nanopore Technologies in a report on Wednesday, September 4th. Berenberg Bank reiterated a “buy” rating and set a GBX 282 ($3.59) price target on shares of Oxford Nanopore Technologies in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Oxford Nanopore Technologies currently has a consensus rating of “Buy” and a consensus target price of GBX 235.50 ($3.00).

Oxford Nanopore Technologies Trading Up 8.3 %

The firm has a market capitalization of £1.50 billion, a price-to-earnings ratio of -795.50 and a beta of 0.80. The company has a quick ratio of 6.01, a current ratio of 4.45 and a debt-to-equity ratio of 8.07. The firm’s 50 day moving average is GBX 144.02 and its 200 day moving average is GBX 125.34.

Insider Activity

In other Oxford Nanopore Technologies news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of GBX 142 ($1.81), for a total transaction of £2,830,870.82 ($3,605,745.54). In the last 90 days, insiders purchased 306 shares of company stock worth $44,850. Insiders own 32.62% of the company’s stock.

About Oxford Nanopore Technologies

Oxford Nanopore Technologies plc engages in the research, development, manufacture, and commercialization of a nanopore based sequencing platform that allows the real-time analysis of deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) in the Americas, Europe, the Middle East, Africa, India, and the Asia Pacific.