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

Key Points

• Oxford Nanopore Technologies' stock price fell 12.8%, closing at GBX 161.60 ($2.16) after trading as low as GBX 159.96 ($2.14).
• Despite the recent decline, analysts remain optimistic, with a consensus rating of "Buy" and a target price of GBX 232.50.
• The company reported a negative net margin of 94.82% and a loss of GBX (7.50) EPS for the recent quarter.

Oxford Nanopore Technologies plc (LON:ONT - Get Free Report) dropped 12.8% during trading on Wednesday . The stock traded as low as GBX 159.96 ($2.16) and last traded at GBX 161.60 ($2.18). Approximately 3,482,561 shares were traded during trading, a decline of 40% from the average daily volume of 5,776,637 shares. The stock had previously closed at GBX 185.30 ($2.50).

Wall Street Analysts Forecast Growth

ONT has been the subject of several recent research reports. Citigroup boosted their price objective on Oxford Nanopore Technologies from GBX 180 to GBX 240 and gave the company a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their price objective on Oxford Nanopore Technologies from GBX 250 to GBX 280 and gave the company an "outperform" rating in a report on Monday. Finally, Berenberg Bank reiterated a "buy" rating and set a GBX 250 price target on shares of Oxford Nanopore Technologies in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Oxford Nanopore Technologies currently has an average rating of "Buy" and an average price target of GBX 256.67.

Oxford Nanopore Technologies Trading Up 4.1%

The firm has a 50 day simple moving average of GBX 183 and a 200 day simple moving average of GBX 139.43. 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 £1.63 billion, a P/E ratio of -1,141.22 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) EPS for the quarter. Oxford Nanopore Technologies had a negative return on equity of 26.02% and a negative net margin of 94.82%.

Oxford Nanopore Technologies Company Profile

Our goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere.