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

Avacta Group Plc (OTCMKTS:AVCTF) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 31,567 shares, a drop of 62.2% from the June 15th total of 83,496 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is presently ∞ days.

Avacta Group Price Performance

AVCTF stock opened at $1.00 on Monday. The business’s 50-day moving average price is $1.03 and its 200-day moving average price is $0.91. Avacta Group has a twelve month low of $0.45 and a twelve month high of $1.23.

Avacta Group Company Profile

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.