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

Oxford Nanopore Technologies plc (LON:ONT)’s share price traded down 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 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).

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 restated a “buy” rating and issued a GBX 190 ($2.38) target price on shares of Oxford Nanopore Technologies in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Oxford Nanopore Technologies in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 235.50 ($2.95).

Oxford Nanopore Technologies Stock Performance

The stock has a market cap of £1.27 billion, a price-to-earnings ratio of -676.50 and a beta of 0.80. 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 company’s 50-day simple moving average is GBX 142.03 and its 200-day simple moving average is GBX 129.81.

Insiders Place Their Bets

In related news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the business’s 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 transaction of £2,830,870.82 ($3,548,791.30). Insiders bought a total of 310 shares of company stock worth $45,010 over the last ninety days. 32.62% of the stock is currently owned by company 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.