Bank of America Corp DE Acquires New Position in Anteris Technologies Global Corp. $AVR

Key Points

• Bank of America initiated a position in Anteris Technologies Global, purchasing 193,621 shares worth approximately $1.91 million, or about 0.20% of the company.
• Anteris reported weaker-than-expected quarterly results, with a loss of $0.30 per share versus the $0.21 consensus estimate and revenue of $1.01 million compared with expectations of $1.50 million.
• Analyst sentiment remains generally positive, with four Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $16, although insiders have sold more than 3 million shares worth roughly $25.2 million over the past three months.

Bank of America Corp DE bought a new position in shares of Anteris Technologies Global Corp. (NASDAQ:AVR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 193,621 shares of the company's stock, valued at approximately $1,907,000. Bank of America Corp DE owned about 0.20% of Anteris Technologies Global at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Legal & General Group Plc bought a new position in Anteris Technologies Global in the second quarter valued at about $78,000. Abel Hall LLC acquired a new position in Anteris Technologies Global during the 1st quarter worth approximately $63,000. Bartlett & CO. Wealth Management LLC lifted its stake in Anteris Technologies Global by 174.5% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 12,900 shares of the company's stock valued at $79,000 after purchasing an additional 8,200 shares during the last quarter. J. Derek Lewis & Associates Inc. bought a new position in Anteris Technologies Global in the 4th quarter valued at approximately $70,000. Finally, Cetera Investment Advisers boosted its position in Anteris Technologies Global by 64.7% in the first quarter. Cetera Investment Advisers now owns 16,550 shares of the company's stock valued at $92,000 after buying an additional 6,500 shares in the last quarter.

Insiders Place Their Bets

In other Anteris Technologies Global news, major shareholder L1 Capital Pty Ltd sold 7,800 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $8.83, for a total transaction of $68,874.00. Following the completion of the transaction, the insider owned 4,803,541 shares in the company, valued at approximately $42,415,267.03. This trade represents a 0.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 3,008,459 shares of company stock worth $25,243,576. Corporate insiders own 4.50% of the company's stock.

Anteris Technologies Global Trading Up 2.4%

NASDAQ AVR opened at $7.77 on Thursday. The business's 50-day moving average price is $8.52 and its two-hundred day moving average price is $7.97. Anteris Technologies Global Corp. has a 12 month low of $3.30 and a 12 month high of $11.06. The firm has a market capitalization of $757.25 million, a PE ratio of -3.98 and a beta of 1.80.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.09). The company had revenue of $1.01 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted ($0.58) EPS. As a group, analysts forecast that Anteris Technologies Global Corp. will post -1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVR. Weiss Ratings restated a "sell (d-)" rating on shares of Anteris Technologies Global in a research report on Wednesday, August 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price target on shares of Anteris Technologies Global in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Anteris Technologies Global currently has an average rating of "Moderate Buy" and an average price target of $16.00.

About Anteris Technologies Global

Anteris Technologies Global Corp. is a medical device company focused on developing advanced technologies for structural heart disease. Its primary product candidate is the DurAVR transcatheter heart valve, designed to treat aortic valve stenosis through a minimally invasive transcatheter aortic valve replacement procedure.

The DurAVR valve is based on Anteris' ADAPT tissue-engineering technology and is manufactured as a single-piece valve intended to replicate the performance and natural hemodynamics of a healthy human aortic valve.

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