Avacta Group (LON:AVCT) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Avacta Group Plc (LON:AVCT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 51.89 and traded as high as GBX 81. Avacta Group shares last traded at GBX 78.50, with a volume of 1,323,606 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Peel Hunt reissued a “buy” rating and issued a GBX 99 price objective on shares of Avacta Group in a research note on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of GBX 99.

Avacta Group Stock Down 1.9%

The stock has a market cap of £320.49 million, a price-to-earnings ratio of -4.47 and a beta of 1.12. 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’s 50-day moving average price is GBX 70.95 and its 200-day moving average price is GBX 51.89.

Avacta Group (LON:AVCT) last posted its quarterly earnings data 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%. On average, sell-side 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).