Avacta Group (LON:AVCT) Stock Price Down 5.7% – Here’s Why

Shares of Avacta Group Plc (LON:AVCT) traded down 5.7% during trading on Wednesday . The stock traded as low as GBX 57.05 and last traded at GBX 57.50. 1,930,022 shares were traded during mid-day trading, a decline of 18% from the average session volume of 2,366,138 shares. The stock had previously closed at GBX 61.

Analyst Ratings Changes

Separately, Peel Hunt restated a “buy” rating and set a GBX 99 target price on shares of Avacta Group in a research report on Monday, October 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 99.

Avacta Group Price Performance

The company has a current ratio of 1.29, a quick ratio of 4.96 and a debt-to-equity ratio of 52.53. The stock has a 50-day moving average price of GBX 73.11 and a 200 day moving average price of GBX 55.95. The stock has a market capitalization of £233.74 million, a price-to-earnings ratio of -3.07 and a beta of 1.12.

Avacta Group (LON:AVCT) last released its quarterly earnings results on Tuesday, September 30th. The biotechnology company reported GBX (4.46) earnings per share for the quarter. Avacta Group had a negative return on equity of 74.00% and a negative net margin of 114.45%. As a group, equities research analysts expect that Avacta Group Plc will post -9.9011833 earnings per share for the current year.

About Avacta Group

Avacta Therapeutics is a clinical stage biopharmaceutical company challenging current drug delivery methods to expand the utility of highly potent cancer therapeutics.
The Company benefits from a world class research and development facility, team of exceptionally talented scientists and a highly experienced management team with members located in both the London headquarters and the US.

Our proprietary pre|CISION® platform masks toxic warheads by binding them to a short, engineered peptide that is cleavable only by the tumor-specific protease, fibroblast activation protein (FAP).