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

Oxford Nanopore Technologies plc (LON:ONT) shares traded down 10.2% 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 changed hands 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

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

Oxford Nanopore Technologies Stock Down 10.2 %

The firm has a market cap of £1.21 billion, a price-to-earnings ratio of -642.50 and a beta of 0.80. The firm’s 50 day moving average price is GBX 142.50 and its two-hundred day moving average price is GBX 129.78. 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 Transactions at Oxford Nanopore Technologies

In related news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of Oxford Nanopore Technologies stock in a transaction that occurred on 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 ($3,548,791.30). Insiders have bought 310 shares of company stock valued at $45,010 in the last quarter. 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.