ADAR1 Capital Management LLC Acquires New Position in Anteris Technologies Global Corp. $AVR

Key Points

• ADAR1 Capital Management acquired 3.15 million shares of Anteris Technologies Global, valued at approximately $31.0 million, giving it about a 3.23% stake and making AVR its 12th-largest portfolio holding.
• Analyst sentiment is generally positive: four analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $16.00 versus the reported $8.89 share price.
• Anteris reported weaker-than-expected quarterly results, with an adjusted loss of $0.30 per share and revenue of $1.01 million, below estimates of a $0.21 loss and $1.50 million in revenue; insiders also sold about 3.0 million shares during the quarter.

ADAR1 Capital Management LLC bought a new position in shares of Anteris Technologies Global Corp. (NASDAQ:AVR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,145,096 shares of the company's stock, valued at approximately $30,979,000. Anteris Technologies Global comprises 1.4% of ADAR1 Capital Management LLC's portfolio, making the stock its 12th biggest holding. ADAR1 Capital Management LLC owned approximately 3.23% of Anteris Technologies Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Anteris Technologies Global by 76.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,536 shares of the company's stock valued at $29,000 after acquiring an additional 2,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Anteris Technologies Global during the 1st quarter worth $32,000. BNP Paribas Financial Markets boosted its holdings in shares of Anteris Technologies Global by 83.3% during the third quarter. BNP Paribas Financial Markets now owns 9,469 shares of the company's stock worth $43,000 after purchasing an additional 4,302 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Anteris Technologies Global by 35.7% during the third quarter. Bank of America Corp DE now owns 10,631 shares of the company's stock worth $48,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Duncan Williams Asset Management LLC purchased a new stake in shares of Anteris Technologies Global in the fourth quarter valued at $54,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen upgraded Anteris Technologies Global from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Barclays raised their price target on Anteris Technologies Global from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Anteris Technologies Global in a research note on Friday, May 29th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 price objective on shares of Anteris Technologies Global in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

Anteris Technologies Global Trading Up 1.0%

Shares of AVR opened at $8.89 on Wednesday. Anteris Technologies Global Corp. has a twelve month low of $3.30 and a twelve month high of $11.06. The firm has a market capitalization of $866.42 million, a P/E ratio of -4.56 and a beta of 1.78. The stock's fifty day simple moving average is $9.12 and its 200 day simple moving average is $7.55.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.09). The firm had revenue of $1.01 million for the quarter, compared to analysts' expectations of $1.50 million. Anteris Technologies Global had a negative net margin of 4,619.27% and a negative return on equity of 77.69%. During the same period last year, the firm posted ($0.58) EPS. Sell-side analysts predict that Anteris Technologies Global Corp. will post -1.21 earnings per share for the current year.

Insider Buying and Selling at Anteris Technologies Global

In other news, major shareholder L1 Capital Pty Ltd sold 558,633 shares of Anteris Technologies Global stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $8.20, for a total value of $4,580,790.60. Following the transaction, the insider directly owned 6,633,314 shares of the company's stock, valued at $54,393,174.80. The trade was a 7.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 3,000,659 shares of company stock valued at $25,174,702. Insiders own 4.50% of the company's stock.

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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