Oxford Nanopore Technologies (LON:ONT) Trading 10% Higher – Here’s Why

Posted by Andrew Walz on Nov 29th, 2024

Oxford Nanopore Technologies plc (LON:ONT – Get Free Report)’s share price traded up 10% on Friday . The stock traded as high as GBX 161.64 ($2.05) and last traded at GBX 161.64 ($2.05). 101,398,086 shares were traded during trading, an increase of 4,224% from the average session volume of 2,345,044 shares. The stock had previously closed at GBX 146.90 ($1.86).

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 282 ($3.58) price target on shares of Oxford Nanopore Technologies in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 190 ($2.41) price target on shares of Oxford Nanopore Technologies in a research note on Wednesday, September 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Oxford Nanopore Technologies presently has an average rating of “Buy” and a consensus price target of GBX 235.50 ($2.99).

Get Our Latest Research Report on ONT

Oxford Nanopore Technologies Stock Up 8.3 %

The business has a 50-day moving average price of GBX 144.11 and a 200-day moving average price of GBX 124.95. The stock has a market cap of £1.50 billion, a PE ratio of -733.07 and a beta of 0.80. The company has a current ratio of 4.45, a quick ratio of 6.01 and a debt-to-equity ratio of 8.07.

Insider Transactions at Oxford Nanopore Technologies

In related news, insider Gurdial (Gordon) Sanghera sold 1,993,571 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of GBX 142 ($1.80), for a total value of £2,830,870.82 ($3,593,387.69). Insiders purchased 306 shares of company stock valued at $44,850 over the last 90 days. Corporate insiders own 32.62% of the company’s stock.

About Oxford Nanopore Technologies

(Get Free Report)

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.