Oxford Nanopore Technologies (LON:ONT) Stock Price Down 10.2% - Here's What Happened

Shares of Oxford Nanopore Technologies plc (LON:ONT - Get Free Report) dropped 10.2% during mid-day trading on Monday . The company traded as low as GBX 127 ($1.59) and last traded at GBX 128.50 ($1.61). Approximately 3,354,197 shares changed hands 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 brokerages have recently weighed in on ONT. Berenberg Bank reiterated a "buy" rating and set a GBX 282 ($3.54) target price on shares of Oxford Nanopore Technologies in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Oxford Nanopore Technologies in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 190 ($2.38) price objective on shares of Oxford Nanopore Technologies in a research note on Wednesday, September 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of GBX 235.50 ($2.95).

Oxford Nanopore Technologies Stock Down 10.2 %

The company has a market cap 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 business's 50 day moving average price is GBX 142.50 and its 200-day moving average price is GBX 129.78.

Insider Buying and Selling at Oxford Nanopore Technologies

In other Oxford Nanopore Technologies news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of GBX 142 ($1.78), for a total value of £2,830,870.82 ($3,548,791.30). In the last quarter, insiders acquired 310 shares of company stock worth $45,010. 32.62% of the stock is currently owned by 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.