Oxford Nanopore Technologies (LON:ONT) Cut to Buy at Citigroup

Key Points

• Citigroup downgraded Oxford Nanopore Technologies to a buy rating, adding to a mixed but still generally positive analyst backdrop for the stock.
• Other recent broker notes include RBC's outperform with a GBX 225 target, Peel Hunt's hold at GBX 153, and Berenberg's buy with a trimmed target to GBX 220. Overall, the stock has an average rating of Moderate Buy and a mean target price of GBX 212.60.
• Oxford Nanopore shares were trading up 0.8% at GBX 113.20, well below the 52-week high of GBX 224.80. The company also disclosed insider buying, including a purchase by Nick Keher of 22,018 shares at GBX 113 each.

Oxford Nanopore Technologies (LON:ONT - Get Free Report) was downgraded by stock analysts at Citigroup to a "buy" rating in a research note issued to investors on Monday,Digital Look reports.

ONT has been the subject of several other reports. Royal Bank Of Canada restated an "outperform" rating and set a GBX 225 target price on shares of Oxford Nanopore Technologies in a research report on Tuesday, May 26th. Peel Hunt reissued a "hold" rating and set a GBX 153 price objective on shares of Oxford Nanopore Technologies in a research report on Monday, July 13th. Finally, Berenberg Bank cut their price objective on shares of Oxford Nanopore Technologies from GBX 230 to GBX 220 and set a "buy" rating for the company in a research report on Monday, July 13th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of GBX 212.60.

Oxford Nanopore Technologies Trading Up 0.8%

Oxford Nanopore Technologies stock opened at GBX 113.20 on Monday. Oxford Nanopore Technologies has a 52-week low of GBX 95.61 and a 52-week high of GBX 224.80. The company has a market cap of £1.10 billion, a P/E ratio of -7.50 and a beta of 0.92. The company has a quick ratio of 6.01, a current ratio of 3.56 and a debt-to-equity ratio of 8.96. The business has a 50-day simple moving average of GBX 123.23 and a two-hundred day simple moving average of GBX 127.57.

Insider Activity at Oxford Nanopore Technologies

In related news, insider Nick Keher acquired 22,018 shares of Oxford Nanopore Technologies stock in a transaction on Monday, May 11th. The shares were bought at an average cost of GBX 113 per share, with a total value of £24,880.34. Over the last three months, insiders have acquired 22,774 shares of company stock valued at $2,578,100. Company insiders own 2.54% of the company's stock.

Oxford Nanopore Technologies Company Profile

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.

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