Avacta Group (LON:AVCT) Shares Up 12.4% – Time to Buy?

Avacta Group Plc (LON:AVCT)’s share price was up 12.4% on Monday . The stock traded as high as GBX 59 and last traded at GBX 59. Approximately 2,156,725 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 2,379,199 shares. The stock had previously closed at GBX 52.50.

Wall Street Analyst Weigh In

Separately, Peel Hunt restated a “buy” rating and set a GBX 99 price target on shares of Avacta Group in a report on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of GBX 99.

Avacta Group Price Performance

The firm has a fifty day moving average of GBX 72.06 and a 200 day moving average of GBX 56.31. 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 company has a market capitalization of £255.86 million, a P/E ratio of -3.36 and a beta of 1.12.

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