Oxford Nanopore Technologies (LON:ONT) Shares Down 12.8% - Here's Why

Key Points

• Oxford Nanopore Technologies shares fell by 12.8%, trading as low as GBX 159.96 ($2.14), with a significant drop in trading volume.
• Despite the decline, several research firms like Citigroup and Berenberg Bank maintain a "buy" rating with price targets between GBX 240 and GBX 250.
• The company reported a negative earnings per share of GBX (7.50) and has a market cap of £1.55 billion, reflecting challenges with a negative return on equity of 26.02%.

Oxford Nanopore Technologies plc (LON:ONT - Get Free Report) shares fell 12.8% during mid-day trading on Tuesday . The stock traded as low as GBX 159.96 ($2.14) and last traded at GBX 161.60 ($2.16). 3,482,561 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 5,776,637 shares. The stock had previously closed at GBX 185.30 ($2.48).

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ONT. Citigroup lifted their price target on Oxford Nanopore Technologies from GBX 180 to GBX 240 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 250 price target on shares of Oxford Nanopore Technologies in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 250 price target on shares of Oxford Nanopore Technologies in a research report on Friday. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 232.50.

Oxford Nanopore Technologies Trading Down 12.8%

The stock has a 50-day simple moving average of GBX 181.20 and a two-hundred day simple moving average of GBX 138.65. 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 cap of £1.55 billion, a PE ratio of -1,010.00 and a beta of 0.80.

Oxford Nanopore Technologies (LON:ONT - Get Free Report) last issued its earnings results on Tuesday, September 2nd. The company reported GBX (7.50) earnings per share for the quarter. Oxford Nanopore Technologies had a negative return on equity of 26.02% and a negative net margin of 94.82%.

About Oxford Nanopore Technologies

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