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

Oxford Nanopore Technologies plc (LON:ONT) dropped 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 were traded 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 ($1.80).

Wall Street Analysts Forecast Growth

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

Oxford Nanopore Technologies Stock Performance

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 stock has a 50-day moving average of GBX 142.50 and a 200 day moving average of GBX 129.78. The stock has a market cap of £1.21 billion, a PE ratio of -642.50 and a beta of 0.80.

Insider Transactions at Oxford Nanopore Technologies

In other Oxford Nanopore Technologies news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of Oxford Nanopore Technologies 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 ($3,558,158.40). Insiders have purchased a total of 310 shares of company stock worth $45,010 in the last quarter. Company 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.