Avacta Group (LON:AVCT) Sets New 52-Week High – Here’s Why

Avacta Group Plc (LON:AVCT)’s share price hit a new 52-week high on Thursday . The stock traded as high as GBX 75 and last traded at GBX 72.05, with a volume of 2528796 shares. The stock had previously closed at GBX 71.90.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 99.

Avacta Group Stock Up 0.2%

The firm’s fifty day moving average price is GBX 61.91 and its two-hundred day moving average price is GBX 45.74. The stock has a market cap of £294.17 million, a price-to-earnings ratio of -4.11 and a beta of 1.12. The company has a debt-to-equity ratio of 52.53, a current ratio of 1.29 and a quick ratio of 4.96.

Avacta Group (LON:AVCT) last posted its earnings results 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%. Sell-side analysts forecast that Avacta Group Plc will post -9.9011833 earnings per share for the current fiscal 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).