Avacta Group (LON:AVCT) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Avacta Group shares have surpassed their 200-day moving average, indicating a potential bullish trend in the stock market performance.
• The company reported a negative EPS of GBX (8.54) for its last quarter, projecting a challenging financial outlook with an expected EPS of -9.90 for the current year.
• Avacta Group has a market capitalization of £172.38 million and a high debt-to-equity ratio of 52.53, which may raise concerns about its financial leverage.

Avacta Group Plc (LON:AVCT - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 37.67 ($0.51) and traded as high as GBX 54.50 ($0.73). Avacta Group shares last traded at GBX 48 ($0.65), with a volume of 2,916,859 shares trading hands.

Avacta Group Stock Down 2.3%

The firm has a market cap of £172.63 million, a price-to-earnings ratio of -5.85 and a beta of 1.12. The business has a fifty day simple moving average of GBX 36.58 and a 200 day simple moving average of GBX 37.68. 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 - Get Free Report) last released its quarterly earnings results on Friday, June 6th. The biotechnology company reported GBX (8.54) (($0.11)) EPS for the quarter. Avacta Group had a negative return on equity of 74.00% and a negative net margin of 114.45%. As a group, equities analysts forecast that Avacta Group Plc will post -9.9011833 EPS 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).