Oxford Nanopore Technologies (OTC:ONTTF) Trading Up 8.3% – Should You Buy?

Oxford Nanopore Technologies plc (OTC:ONTTF) was up 8.3% during trading on Thursday . The stock traded as high as $2.30 and last traded at $2.2950. Approximately 55,760 shares traded hands during trading, an increase of 503% from the average daily volume of 9,243 shares. The stock had previously closed at $2.12.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada restated an “outperform” rating on shares of Oxford Nanopore Technologies in a report on Wednesday. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Oxford Nanopore Technologies Price Performance

The business has a 50-day simple moving average of $1.85 and a 200-day simple moving average of $2.13.

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.