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

Oxford Nanopore Technologies plc (LON:ONT) shares dropped 10.2% on Monday . The stock 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

A number of equities analysts have weighed in on the stock. 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. Berenberg Bank restated a “buy” rating and issued a GBX 282 ($3.54) price objective on shares of Oxford Nanopore Technologies in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Oxford Nanopore Technologies in a research report on Friday, December 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 235.50 ($2.95).

Oxford Nanopore Technologies Stock Down 10.2 %

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 market cap of £1.21 billion, a P/E ratio of -642.50 and a beta of 0.80. The firm’s 50 day moving average price is GBX 142.50 and its 200-day moving average price is GBX 129.78.

Insider Buying and Selling at Oxford Nanopore Technologies

In related news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the 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 value of £2,830,870.82 ($3,548,791.30). Over the last ninety days, insiders have acquired 310 shares of company stock valued at $45,010. 32.62% of the stock is currently owned by insiders.

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.