Oxford Nanopore Technologies (LON:ONT) Stock Price Up 12.7% – Here’s What Happened

Oxford Nanopore Technologies plc (LON:ONT) shares traded up 12.7% during trading on Wednesday . The stock traded as high as GBX 142.20 and last traded at GBX 137.74. Approximately 261,358,125 shares changed hands during trading, an increase of 2,227% from the average session volume of 11,230,706 shares. The stock had previously closed at GBX 122.20.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a GBX 225 target price on shares of Oxford Nanopore Technologies in a research note on Tuesday, May 26th. Berenberg Bank lowered their price target on Oxford Nanopore Technologies from GBX 220 to GBX 200 and set a “buy” rating for the company in a report on Wednesday. Peel Hunt restated a “hold” rating and set a GBX 153 price target on shares of Oxford Nanopore Technologies in a research note on Monday, July 13th. Citigroup downgraded shares of Oxford Nanopore Technologies to a “buy” rating in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 195 target price on shares of Oxford Nanopore Technologies in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Oxford Nanopore Technologies presently has a consensus rating of “Moderate Buy” and an average price target of GBX 193.25.

Oxford Nanopore Technologies Stock Performance

The stock has a market capitalization of £1.64 billion, a price-to-earnings ratio of -11.13 and a beta of 0.91. The company has a current ratio of 3.52, a quick ratio of 6.01 and a debt-to-equity ratio of 9.86. The firm has a 50-day moving average of GBX 118.99 and a 200-day moving average of GBX 122.52.

Oxford Nanopore Technologies (LON:ONT) last posted its quarterly earnings results on Wednesday, August 19th. The company reported GBX (4.90) earnings per share for the quarter. Oxford Nanopore Technologies had a negative net margin of 54.66% and a negative return on equity of 35.45%.

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.