Avacta Group (OTCMKTS:AVCTF) Trading Up 10.3% – Here’s Why

Avacta Group Plc (OTCMKTS:AVCTF) shares shot up 10.3% on Monday . The company traded as high as $0.91 and last traded at $0.91. 20,000 shares traded hands during mid-day trading, an increase of 76% from the average session volume of 11,379 shares. The stock had previously closed at $0.8248.

Avacta Group Stock Up 10.3%

The firm’s 50 day simple moving average is $0.79 and its 200-day simple moving average is $0.89.

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.