Oxford Nanopore Technologies (ONT)

Sector:

Pharma and Biotech

Index:

FTSE 250

132.90p
   
  • Change Today:
      2.00p
  • 52 Week High: 164.30p
  • 52 Week Low: 86.55p
  • Currency: UK Pounds
  • Shares Issued: 960.45m
  • Volume: 76,875
  • Market Cap: £1,276.44m

Oxford Nanopore Tech shares tank on margin warning

By Benjamin Chiou

Date: Tuesday 09 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Shares in Oxford Nanopore Technologies (ONT) plunged on Tuesday after the DNA/RNA sequencing tech firm warned of lower full-year margins due to a change in a purchase agreement to do with the Emirati Genome Program.
The EGP contract, which was originally signed in November 2021 over a three-year period, has been extended to the end of 2026. However, the outstanding purchase commitment under the original agreement has now been removed.

ONT has now signed an agreement to replace and supersede the existing purchase agreement it has with G42 Laboratories in support of the EGP.

Excluding EGP, group gross margins are expected to have been 57% for the 2023 full year, in line with prior guidance. However, as a result of the G42 agreement, they are tipped to fall to between 53% and 55%.

Ahead of its annual results in March, the company said it expects to report Life Science Research Tools revenue of £169m, up 15% on 2022.

Excluding revenues from the EGP and Covid-19 sequencing, which heavily affected 2022 results, revenue growth would have been 39% on a constant currency basis, though underlying growth was held back by a slower-than-expected ramp-up of certain customers in the S3 customer group, it said.

"In addition, there was some slow-down in growth in China and in the Middle East following issuance of the recent US semiconductor trade rule further regulating sales of advanced AI semiconductors. Product development plans within 2024 include updates that are expected to mitigate this headwind," the company explained.

The stock was down 14% at 173p by 1116 GMT.

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ONT Market Data

Currency UK Pounds
Share Price 132.90p
Change Today 2.00p
% Change 1.53 %
52 Week High 164.30p
52 Week Low 86.55p
Volume 76,875
Shares Issued 960.45m
Market Cap £1,276.44m

ONT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.57% below the market average20.57% below the market average20.57% below the market average20.57% below the market average20.57% below the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average
Price Trend
1.68% below the market average1.68% below the market average1.68% below the market average1.68% below the market average1.68% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Income Not Available
Growth
9.23% below the market average9.23% below the market average9.23% below the market average9.23% below the market average9.23% below the market average
18.75% below the sector average18.75% below the sector average18.75% below the sector average18.75% below the sector average18.75% below the sector average

ONT Dividends

No dividends found

Trades for 09-May-2025

Time Volume / Share Price
08:32 1 @ 132.80p
08:31 15 @ 132.95p
08:29 1,312 @ 132.90p
08:29 820 @ 132.90p
08:29 689 @ 133.00p

ONT Key Personnel

CEO Gurdial (Gordon) Sanghera
CFO Nick Keher

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