Oxford Nanopore Technologies (LON:ONT) Shares Up 2.2% – Here’s Why

Oxford Nanopore Technologies plc (LON:ONT)’s stock price was up 2.2% during trading on Tuesday . The company traded as high as GBX 157 ($2.05) and last traded at GBX 152.80 ($2.00). Approximately 3,264,080 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 1,809,135 shares. The stock had previously closed at GBX 149.50 ($1.96).

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ONT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 190 ($2.49) price objective on shares of Oxford Nanopore Technologies in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a GBX 260 ($3.40) price target on shares of Oxford Nanopore Technologies in a research report on Friday, June 28th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 282 ($3.69) price objective on shares of Oxford Nanopore Technologies in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of GBX 235.50 ($3.08).

Oxford Nanopore Technologies Price Performance

The stock’s 50 day simple moving average is GBX 136.60 and its 200 day simple moving average is GBX 118.07. 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 firm has a market capitalization of £1.44 billion, a P/E ratio of -764.00 and a beta of 0.79.

Oxford Nanopore Technologies Company Profile

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.