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

Oxford Nanopore Technologies plc (LON:ONT)’s stock price dropped 10.2% during mid-day trading on Monday . The company traded as low as GBX 127 ($1.59) and last traded at GBX 128.50 ($1.61). Approximately 3,354,197 shares traded hands during mid-day trading, an increase of 54% from the average daily volume of 2,182,529 shares. The stock had previously closed at GBX 143.10 ($1.79).

Wall Street Analysts Forecast Growth

ONT has been the topic of a number of recent analyst reports. Berenberg Bank reiterated a “buy” rating and set a GBX 282 ($3.54) target price on shares of Oxford Nanopore Technologies in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 190 ($2.38) price objective on shares of Oxford Nanopore Technologies in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Oxford Nanopore Technologies in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Oxford Nanopore Technologies presently has a consensus rating of “Buy” and a consensus target price of GBX 235.50 ($2.95).

Oxford Nanopore Technologies Trading Up 5.3 %

The firm has a fifty day moving average of GBX 142.03 and a two-hundred day moving average of GBX 129.81. The company has a market cap of £1.27 billion, a PE ratio of -676.50 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.

Insiders Place Their Bets

In related news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the company’s stock in a transaction that occurred on 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 ($3,548,791.30). Insiders acquired 310 shares of company stock worth $45,010 over the last quarter. 32.62% of the stock is currently owned by company insiders.

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.