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

Oxford Nanopore Technologies plc (LON:ONT) fell 10.2% on Monday . The stock traded as low as GBX 127 ($1.59) and last traded at GBX 128.50 ($1.61). 3,354,197 shares changed 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 ($1.79).

Analyst Ratings Changes

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

Oxford Nanopore Technologies Stock Up 5.3 %

The firm has a market cap of £1.27 billion, a PE ratio of -676.50 and a beta of 0.80. The company has a debt-to-equity ratio of 8.07, a quick ratio of 6.01 and a current ratio of 4.45. The company’s 50-day simple moving average is GBX 142.03 and its two-hundred day simple moving average is GBX 129.81.

Insider Activity

In other news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the company’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 value of £2,830,870.82 ($3,548,791.30). In the last 90 days, insiders have purchased 310 shares of company stock valued at $45,010. Corporate 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.