Avacta Group (LON:AVCT) Posts Quarterly Earnings Results

Key Points

• Avacta Group reported a quarterly earnings per share (EPS) of GBX 4.46, with a negative return on equity of 74.00% and a net margin of -114.45%.
• Shares of Avacta Group increased by GBX 7.85 to reach GBX 58.85, with a market capitalization of £236.44 million.
• Peel Hunt has reiterated a "buy" rating for the stock and set a target price of GBX 99, with a consensus rating also indicating a strong buy outlook.

Avacta Group (LON:AVCT - Get Free Report) posted its quarterly earnings results on Tuesday. The biotechnology company reported GBX (4.46) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Avacta Group had a negative return on equity of 74.00% and a negative net margin of 114.45%.

Avacta Group Price Performance

Shares of LON:AVCT traded up GBX 7.85 during trading on Tuesday, hitting GBX 58.85. 3,421,527 shares of the company were exchanged, compared to its average volume of 2,055,123. The business's 50 day moving average is GBX 50.85 and its 200-day moving average is GBX 40.03. The company has a market capitalization of £236.44 million, a P/E ratio of -383.64 and a beta of 1.12. The company has a quick ratio of 4.96, a current ratio of 1.29 and a debt-to-equity ratio of 52.53. Avacta Group has a 1-year low of GBX 26 and a 1-year high of GBX 72.

Analyst Upgrades and Downgrades

Separately, Peel Hunt reiterated a "buy" rating and set a GBX 99 target price on shares of Avacta Group in a research note on Tuesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Avacta Group presently has a consensus rating of "Buy" and a consensus price target of GBX 99.

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).

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