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

Oxford Nanopore Technologies plc (LON:ONT) shares dropped 10.2% during 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 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).

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ONT. Berenberg Bank reissued a “buy” rating and issued a GBX 282 ($3.54) target price 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 issued a GBX 190 ($2.38) target price on shares of Oxford Nanopore Technologies in a research note on Wednesday, September 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 235.50 ($2.95).

Oxford Nanopore Technologies Stock Performance

The firm has a fifty day moving average of GBX 142.03 and a 200-day moving average of GBX 129.81. 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 has a market cap of £1.27 billion, a P/E ratio of -676.50 and a beta of 0.80.

Insider Transactions at Oxford Nanopore Technologies

In other news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of GBX 142 ($1.78), for a total value of £2,830,870.82 ($3,548,791.30). Insiders acquired a total of 310 shares of company stock worth $45,010 in the last quarter. 32.62% of the stock is 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.