Oxford Nanopore Technologies (LON:ONT) Shares Down 10.2% – Time to Sell?

Shares of Oxford Nanopore Technologies plc (LON:ONT) traded down 10.2% during mid-day trading on Tuesday . The stock traded as low as GBX 127 ($1.59) and last traded at GBX 128.50 ($1.61). 3,354,197 shares traded 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).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ONT shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of Oxford Nanopore Technologies in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 190 ($2.38) price objective on shares of Oxford Nanopore Technologies in a report on Wednesday, September 4th. Finally, Berenberg Bank reissued 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Oxford Nanopore Technologies has a consensus rating of “Buy” and a consensus target price of GBX 235.50 ($2.95).

Oxford Nanopore Technologies Stock Performance

The company has a current ratio of 4.45, a quick ratio of 6.01 and a debt-to-equity ratio of 8.07. The stock’s fifty day simple moving average is GBX 141.96 and its 200 day simple moving average is GBX 130.01. The company has a market cap of £1.27 billion, a price-to-earnings ratio of -676.50 and a beta of 0.80.

Insider Activity

In other news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of Oxford Nanopore Technologies stock in a transaction 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 ($3,550,571.70). Insiders purchased 310 shares of company stock worth $45,010 over the last ninety days. 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.