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

Oxford Nanopore Technologies plc (LON:ONT) shares fell 10.2% during trading 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 were traded 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).

Wall Street Analyst Weigh In

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

Oxford Nanopore Technologies Stock Down 10.2 %

The firm 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. The stock has a fifty day moving average of GBX 142.50 and a 200 day moving average of GBX 129.78.

Insider Buying and Selling

In other Oxford Nanopore Technologies 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). Over the last 90 days, insiders purchased 310 shares of company stock worth $45,010. 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.