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

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

Wall Street Analyst Weigh In

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

Oxford Nanopore Technologies Trading Down 10.2 %

The company 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 business’s 50-day simple moving average is GBX 142.50 and its two-hundred day simple moving average is GBX 129.63.

Insider Activity at Oxford Nanopore Technologies

In other Oxford Nanopore Technologies news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of GBX 142 ($1.78), for a total transaction of £2,830,870.82 ($3,558,158.40). Over the last 90 days, insiders acquired 310 shares of company stock valued at $45,010. 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.