Avacta Group (LON:AVCT) Shares Up 13.7% - Here's What Happened

Key Points

• Avacta Group's shares increased by 13.7%, with a trading price reaching GBX 58 ($0.78), significantly up from the previous close of GBX 51 ($0.69).
• Peel Hunt has reiterated a "buy" rating for Avacta, setting a target price of GBX 99, contributing to a consensus rating of "Buy" from analysts.
• The company has a market capitalization of £236.44 million and operates within the biopharmaceutical sector, focusing on innovative cancer therapeutics through its proprietary pre|CISION® platform.

Shares of Avacta Group Plc (LON:AVCT - Get Free Report) were up 13.7% during mid-day trading on Tuesday . The company traded as high as GBX 58 ($0.78) and last traded at GBX 58 ($0.78). Approximately 2,647,265 shares were traded during trading, an increase of 29% from the average daily volume of 2,051,026 shares. The stock had previously closed at GBX 51 ($0.69).

Analyst Ratings Changes

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

Avacta Group Trading Up 15.4%

The company has a market capitalization of £236.44 million, a P/E ratio of -383.64 and a beta of 1.12. The stock's 50 day moving average is GBX 50.85 and its 200-day moving average is GBX 40.03. The company has a debt-to-equity ratio of 52.53, a current ratio of 1.29 and a quick ratio of 4.96.

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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