We presented Oxford Nanopore in October on the back of their successful IPO. ONT rose 45% on its first day of trading, and the shares have gone from strength to strength ever since. ONT is now up ~65% in just two months, and AlphaPicks believes the positive momentum will continue.

Strong Buy Ratings

The analyst community is also forecasting further strength for ONT, as a Bloomberg survey of Equity Research Analysts indicates that 86% have recommended the stock as “BUY”, whilst 14% have a “HOLD” rating. There are no analysts with “SELL” ratings.

Broad Product Portfolio

The spin-off project from the University of Oxford has an industry leading platform for molecular analysis and the technology can be used in a wide range of applications. In particular, the company is benefitting significantly from their role in COVID surveillance, which looks to be a revenue stream that will be supported by the ongoing emergence of novel COVID variants. Looking beyond COVID, the company announced new technology updates at the Nanopore Community Meeting today, including multiple new product releases and upgrades. We expect the stock to continue to outperform as ONT accelerates their commercialisation plans across their diversified product portfolio.

AlphaPicks does not own a position in Oxford Nanopore. Register here with our preferred investment partner, EToro.

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