Anteris Technologies Global Corp. (NASDAQ:AVR) Sees Large Growth in Short Interest

Key Points

• Short interest surged 73.5% in March to 4,184,298 shares (about 4.5% of the stock) with a days-to-cover ratio of 3.3, signaling increased bearish positioning.
• Analysts hold a consensus "Moderate Buy" with a consensus price target of $15.33, compared with the stock trading around $5.68, indicating a large gap between analyst expectations and current market price.
• L1 Capital bought 5,000,000 shares at about $5.75 on Jan. 22, boosting its stake to 13,219,814 shares (a 60.8% increase); corporate insiders now own roughly 4.5% of the company.

Anteris Technologies Global Corp. (NASDAQ:AVR - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 4,184,298 shares, a growth of 73.5% from the March 15th total of 2,411,389 shares. Approximately 4.5% of the company's stock are short sold. Based on an average trading volume of 1,271,890 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

Several equities research analysts have commented on AVR shares. Wells Fargo & Company started coverage on Anteris Technologies Global in a research note on Wednesday, March 11th. They issued an "overweight" rating and a $16.00 target price on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Anteris Technologies Global in a research report on Monday, December 29th. Lake Street Capital reissued a "buy" rating and set a $15.00 price target on shares of Anteris Technologies Global in a research report on Friday, January 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price target on shares of Anteris Technologies Global in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Anteris Technologies Global presently has an average rating of "Moderate Buy" and a consensus price target of $15.33.

Anteris Technologies Global Price Performance

Anteris Technologies Global stock opened at $5.68 on Monday. The stock has a market cap of $552.28 million, a P/E ratio of -2.22 and a beta of 1.58. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.01. Anteris Technologies Global has a twelve month low of $2.34 and a twelve month high of $6.95. The company's 50-day moving average price is $5.82 and its two-hundred day moving average price is $5.14.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.75) earnings per share (EPS) for the quarter. Anteris Technologies Global had a negative net margin of 4,921.27% and a negative return on equity of 536.04%. The business had revenue of $0.31 million during the quarter. As a group, analysts expect that Anteris Technologies Global will post -2.66 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder L1 Capital Pty Ltd acquired 5,000,000 shares of the business's stock in a transaction that occurred on Thursday, January 22nd. The shares were acquired at an average cost of $5.75 per share, with a total value of $28,750,000.00. Following the transaction, the insider owned 13,219,814 shares of the company's stock, valued at $76,013,930.50. The trade was a 60.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of Anteris Technologies Global

Large investors have recently modified their holdings of the stock. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Anteris Technologies Global during the 4th quarter worth approximately $70,000. ADAR1 Capital Management LLC boosted its position in Anteris Technologies Global by 526.9% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,238,777 shares of the company's stock valued at $6,181,000 after buying an additional 1,041,162 shares in the last quarter. Millennium Management LLC boosted its position in Anteris Technologies Global by 21.7% in the fourth quarter. Millennium Management LLC now owns 85,646 shares of the company's stock valued at $427,000 after buying an additional 15,266 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in Anteris Technologies Global in the fourth quarter valued at approximately $175,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Anteris Technologies Global by 78.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,875 shares of the company's stock valued at $115,000 after buying an additional 10,073 shares in the last quarter.

Anteris Technologies Global Company Profile

Anteris Technologies Global Corp. engages in the development and commercialization of medical devices for heart diseases. The company was founded in 1999 and is headquartered in Eagan, MN.

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