Anteris Technologies Global (NASDAQ:AVR) Shares Gap Up After Insider Buying Activity

Anteris Technologies Global Corp. (NASDAQ:AVR)’s share price gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $7.61, but opened at $7.97. Anteris Technologies Global shares last traded at $7.9390, with a volume of 101,101 shares traded.

Specifically, major shareholder L1 Capital Pty Ltd bought 322,940 shares of Anteris Technologies Global stock in a transaction dated Thursday, October 1st. The shares were bought at an average cost of $7.60 per share, with a total value of $2,454,344.00. Following the acquisition, the insider owned 5,200,767 shares in the company, valued at $39,525,829.20. This trade represents a 6.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder L1 Capital Pty Ltd purchased 74,286 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average price of $7.72 per share, for a total transaction of $573,487.92. Following the transaction, the insider directly owned 4,877,827 shares of the company’s stock, valued at $37,656,824.44. This trade represents a 1.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

Several research firms recently weighed in on AVR. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Anteris Technologies Global in a research report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Anteris Technologies Global in a report on Wednesday, August 26th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Anteris Technologies Global has an average rating of “Moderate Buy” and an average target price of $16.00.

Anteris Technologies Global Trading Up 4.2%

The company has a market cap of $772.86 million, a P/E ratio of -4.07 and a beta of 1.87. The company has a 50 day moving average price of $8.51 and a 200-day moving average price of $7.98.

Anteris Technologies Global (NASDAQ:AVR) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.09). The company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $1.50 million. Anteris Technologies Global had a negative net margin of 4,619.27% and a negative return on equity of 77.69%. During the same period last year, the firm posted ($0.58) earnings per share. Equities analysts expect that Anteris Technologies Global Corp. will post -1.21 earnings per share for the current year.

Institutional Trading of Anteris Technologies Global

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers grew its position in Anteris Technologies Global by 64.7% in the first quarter. Cetera Investment Advisers now owns 16,550 shares of the company’s stock worth $92,000 after acquiring an additional 6,500 shares in the last quarter. Bank of America Corp DE raised its position in Anteris Technologies Global by 12.6% during the first quarter. Bank of America Corp DE now owns 68,755 shares of the company’s stock valued at $382,000 after purchasing an additional 7,688 shares in the last quarter. Legal & General Group Plc purchased a new stake in Anteris Technologies Global during the second quarter valued at about $78,000. Bartlett & CO. Wealth Management LLC raised its position in Anteris Technologies Global by 174.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 12,900 shares of the company’s stock valued at $79,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Abel Hall LLC bought a new stake in Anteris Technologies Global during the first quarter worth about $63,000.

About Anteris Technologies Global

Anteris Technologies Global Corp. is a medical device company focused on developing advanced technologies for structural heart disease. Its primary product candidate is the DurAVR transcatheter heart valve, designed to treat aortic valve stenosis through a minimally invasive transcatheter aortic valve replacement procedure.

The DurAVR valve is based on Anteris’ ADAPT tissue-engineering technology and is manufactured as a single-piece valve intended to replicate the performance and natural hemodynamics of a healthy human aortic valve.