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

Oxford Nanopore Technologies plc (LON:ONT) shares dropped 10.2% during trading on Tuesday . The company traded as low as GBX 127 ($1.59) and last traded at GBX 128.50 ($1.61). 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 ($1.79).

Wall Street Analysts Forecast Growth

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

Oxford Nanopore Technologies Stock Performance

The company has a debt-to-equity ratio of 8.07, a quick ratio of 6.01 and a current ratio of 4.45. The company has a market capitalization of £1.27 billion, a price-to-earnings ratio of -676.50 and a beta of 0.80. The firm has a 50-day simple moving average of GBX 141.96 and a two-hundred day simple moving average of GBX 130.01.

Insider Activity at Oxford Nanopore Technologies

In other news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the 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 ($3,550,571.70). Over the last quarter, insiders acquired 310 shares of company stock worth $45,010. Corporate 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.