Oxford Nanopore Technologies (LON:ONT) Shares Down 10.2% – Here’s Why

Oxford Nanopore Technologies plc (LON:ONT) fell 10.2% during trading on Monday . The stock traded as low as GBX 127 ($1.60) and last traded at GBX 128.50 ($1.62). 3,354,197 shares traded hands during mid-day trading, an increase of 54% from the average session volume of 2,182,529 shares. The stock had previously closed at GBX 143.10 ($1.80).

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 190 ($2.39) price target on shares of Oxford Nanopore Technologies in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Oxford Nanopore Technologies in a research note on Friday, December 6th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 282 ($3.54) price objective on shares of Oxford Nanopore Technologies in a research note on Tuesday, September 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Oxford Nanopore Technologies presently has an average rating of “Buy” and an average target price of GBX 235.50 ($2.96).

Oxford Nanopore Technologies Trading Down 10.2 %

The stock has a market capitalization of £1.21 billion, a PE ratio of -642.50 and a beta of 0.80. The company has a current ratio of 4.45, a quick ratio of 6.01 and a debt-to-equity ratio of 8.07. The company has a 50 day simple moving average of GBX 142.50 and a 200 day simple moving average of GBX 129.63.

Insiders Place Their Bets

In other Oxford Nanopore Technologies news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of GBX 142 ($1.78), for a total transaction of £2,830,870.82 ($3,558,158.40). In the last 90 days, insiders have acquired 310 shares of company stock worth $45,010. Company insiders own 32.62% of the company’s stock.

Oxford Nanopore Technologies Company Profile

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.