Oxford Nanopore Technologies (LON:ONT) Trading Down 7.8% – Here’s What Happened

Oxford Nanopore Technologies plc (LON:ONT)’s share price traded down 7.8% during trading on Monday . The stock traded as low as GBX 131 ($1.65) and last traded at GBX 132 ($1.66). 3,102,731 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 2,181,523 shares. The stock had previously closed at GBX 143.10 ($1.80).

Wall Street Analyst Weigh In

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

Oxford Nanopore Technologies Price Performance

The firm has a fifty day moving average of GBX 142.50 and a two-hundred day moving average of GBX 129.63. The stock has a market capitalization of £1.21 billion, a P/E ratio of -642.50 and a beta of 0.80. The company has a debt-to-equity ratio of 8.07, a current ratio of 4.45 and a quick ratio of 6.01.

Insider Activity

In related news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the firm’s stock in a transaction dated 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). In the last quarter, insiders acquired 310 shares of company stock worth $45,010. 32.62% of the stock is currently owned by corporate 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.