Oxford Nanopore Technologies (LON:ONT) Trading 3.2% Higher – Here’s Why

Oxford Nanopore Technologies plc (LON:ONT) shares shot up 3.2% during mid-day trading on Monday . The stock traded as high as GBX 131.30 and last traded at GBX 128.90. Approximately 1,222,700 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 9,993,984 shares. The stock had previously closed at GBX 124.90.

Analyst Ratings Changes

A number of brokerages have commented on ONT. Berenberg Bank reduced their price target on shares of Oxford Nanopore Technologies from GBX 230 to GBX 220 and set a “buy” rating on the stock in a research report on Monday, July 13th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 225 price objective on shares of Oxford Nanopore Technologies in a report on Tuesday, May 26th. Citigroup cut shares of Oxford Nanopore Technologies to a “buy” rating in a research note on Monday, July 20th. Finally, Peel Hunt reaffirmed a “hold” rating and set a GBX 153 target price on shares of Oxford Nanopore Technologies in a report on Monday, July 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 205.75.

Oxford Nanopore Technologies Price Performance

The business has a 50 day moving average of GBX 118.88 and a 200 day moving average of GBX 124.24. The company has a market cap of £1.24 billion, a PE ratio of -8.42 and a beta of 0.92. The company has a debt-to-equity ratio of 8.96, a current ratio of 3.56 and a quick ratio of 6.01.

About Oxford Nanopore Technologies

Oxford Nanopore Technologies’ goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere. The Group has developed a new generation of nanopore-based sensing technology that is currently used for real-time, high-performance, accessible, and scalable analysis of DNA and RNA. The technology is used in more than 125 countries, to understand the biology of humans, plants, animals, bacteria, viruses and environments as well as to understand diseases such as cancer.