Oxford Nanopore Technologies (OTCMKTS:ONTTF) Stock Jumps 12.4% – Here’s Why

Oxford Nanopore Technologies plc (OTCMKTS:ONTTF) traded up 12.4% during trading on Wednesday. The stock traded as high as $2.37 and last traded at $2.3614. Approximately 1,280 shares were traded during trading, a decline of 95% from the average daily volume of 24,011 shares. The stock had previously closed at $2.10.

Analysts Set New Price Targets

Several research analysts have weighed in on ONTTF shares. Panmure Gordon raised Oxford Nanopore Technologies to a “buy” rating in a research report on Monday, August 24th. Citigroup reissued a “buy” rating on shares of Oxford Nanopore Technologies in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Oxford Nanopore Technologies in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Oxford Nanopore Technologies Price Performance

The firm has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $1.74.

Oxford Nanopore Technologies Company Profile

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.