Avacta Group Plc (OTCMKTS:AVCTF) Sees Large Decline in Short Interest

Avacta Group Plc (OTCMKTS:AVCTF) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 54,704 shares, a decrease of 17.9% from the November 30th total of 66,654 shares. Based on an average daily volume of 7,244 shares, the days-to-cover ratio is presently 7.6 days. Based on an average daily volume of 7,244 shares, the days-to-cover ratio is presently 7.6 days.

Avacta Group Stock Performance

Shares of AVCTF opened at $0.82 on Wednesday. The firm has a 50-day moving average price of $1.02 and a 200 day moving average price of $0.79. Avacta Group has a 52-week low of $0.40 and a 52-week high of $1.11.

About Avacta Group

Avacta Group plc is a UK-based biotechnology company specializing in the discovery, development and commercialization of Affimer® biotherapeutics and diagnostic reagents. The company’s proprietary Affimer platform uses small, engineered protein scaffolds that can be tailored to bind specifically to target molecules, offering an alternative to traditional antibodies. Avacta operates two core divisions: Avacta Therapeutics, which focuses on novel treatments in oncology and immune-related diseases, and Avacta Analytical, which develops reagents and point-of-care diagnostic tests.

In its diagnostics business, Avacta has applied the Affimer technology to lateral flow assays, most notably for rapid detection of viral pathogens such as SARS-CoV-2.