Oxford Nanopore Technologies (OTCMKTS:ONTTF) Trading Down 12.7% – Here’s Why

Oxford Nanopore Technologies plc (OTCMKTS:ONTTF)’s share price was down 12.7% during mid-day trading on Tuesday . The stock traded as low as $2.10 and last traded at $2.14. Approximately 27,445 shares changed hands during trading, an increase of 16% from the average daily volume of 23,603 shares. The stock had previously closed at $2.45.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ONTTF. Panmure Gordon upgraded shares of Oxford Nanopore Technologies to a “buy” rating in a research note on Monday, August 24th. Citigroup reaffirmed a “buy” rating on shares of Oxford Nanopore Technologies in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Oxford Nanopore Technologies Stock Down 12.7%

The company’s 50 day moving average price is $1.73 and its 200 day moving average price is $1.69.

About Oxford Nanopore Technologies

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. The company operates in Life Science Research Tools and Covid Testing segments. It offers MinION, a portable device for DNA and RNA; GridION, a flexible and self-contained benchtop nanopore sequencer to run and analyse up to five MinION or Flongle flow cells; MinION Mk 1C, a nano pore-based sequencer with analysis software and connectivity for self-contained and portable sequencing; Flongle, an adapter for MinION or GridION that enables DNA sequencing or cDNA sequencing on smaller and single-use flow cells; and PromethION 2 Solo, a sequencer for two PromethION flow cells.