Insider Selling: Anteris Technologies Global (NASDAQ:AVR) Major Shareholder Sells $3,853,113.30 in Stock

Key Points

• Major shareholder L1 Capital Pty Ltd sold 475,693 AVR shares at an average $8.10 each, generating $3.85 million. Its remaining stake fell 7.22% to 6.11 million shares.
• The sale follows several additional L1 Capital disposals in late July, bringing its recent selling activity to more than 1.7 million shares and approximately $14 million in proceeds.
• Anteris reported a quarterly loss of $0.28 per share and $0.49 million in revenue, missing analyst estimates. Despite weak results, analysts maintain a “Moderate Buy” consensus with a $16 price target, compared with the stock’s $8.28 opening price.

Anteris Technologies Global Corp. (NASDAQ:AVR - Get Free Report) major shareholder L1 Capital Pty Ltd sold 475,693 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $8.10, for a total transaction of $3,853,113.30. Following the completion of the transaction, the insider directly owned 6,108,910 shares in the company, valued at $49,482,171. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

L1 Capital Pty Ltd also recently made the following trade(s):

• On Friday, July 31st, L1 Capital Pty Ltd sold 48,711 shares of Anteris Technologies Global stock. The stock was sold at an average price of $8.15, for a total value of $396,994.65.
• On Wednesday, July 29th, L1 Capital Pty Ltd sold 155,505 shares of Anteris Technologies Global stock. The stock was sold at an average price of $8.04, for a total value of $1,250,260.20.
• On Thursday, July 30th, L1 Capital Pty Ltd sold 558,633 shares of Anteris Technologies Global stock. The shares were sold at an average price of $8.20, for a total value of $4,580,790.60.
• On Monday, July 27th, L1 Capital Pty Ltd sold 232,817 shares of Anteris Technologies Global stock. The shares were sold at an average price of $8.19, for a total value of $1,906,771.23.
• On Tuesday, July 28th, L1 Capital Pty Ltd sold 208,731 shares of Anteris Technologies Global stock. The shares were sold at an average price of $8.09, for a total value of $1,688,633.79.
• On Friday, July 24th, L1 Capital Pty Ltd sold 23,000 shares of Anteris Technologies Global stock. The shares were sold at an average price of $8.13, for a total value of $186,990.00.

Anteris Technologies Global Price Performance

Shares of NASDAQ:AVR opened at $8.28 on Tuesday. The business's 50 day moving average price is $9.19 and its 200-day moving average price is $7.19. The firm has a market capitalization of $805.99 million, a PE ratio of -3.71 and a beta of 1.65. Anteris Technologies Global Corp. has a 1 year low of $3.09 and a 1 year high of $11.06.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $0.49 million for the quarter, compared to analysts' expectations of $0.77 million. Anteris Technologies Global had a negative return on equity of 124.76% and a negative net margin of 5,148.78%.During the same quarter in the previous year, the firm posted ($0.61) earnings per share. As a group, analysts expect that Anteris Technologies Global Corp. will post -1.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVR shares. Wall Street Zen upgraded shares of Anteris Technologies Global from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Anteris Technologies Global in a research report on Friday, May 29th. Finally, Barclays boosted their price target on shares of Anteris Technologies Global from $17.00 to $18.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Anteris Technologies Global has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

Institutional Investors Weigh In On Anteris Technologies Global

A number of hedge funds have recently modified their holdings of AVR. Militia Capital Management LLC acquired a new stake in Anteris Technologies Global during the first quarter worth $3,358,000. Avidity Partners Management LP purchased a new stake in Anteris Technologies Global in the first quarter valued at $832,000. SummitTX Capital L.P. acquired a new position in shares of Anteris Technologies Global in the 1st quarter valued at $1,326,000. Affinity Asset Advisors LLC lifted its stake in shares of Anteris Technologies Global by 87.5% in the 1st quarter. Affinity Asset Advisors LLC now owns 912,397 shares of the company's stock valued at $5,064,000 after purchasing an additional 425,713 shares during the last quarter. Finally, Perceptive Advisors LLC grew its holdings in shares of Anteris Technologies Global by 104.4% during the 1st quarter. Perceptive Advisors LLC now owns 3,425,476 shares of the company's stock worth $19,011,000 after purchasing an additional 1,750,000 shares during the period.

About Anteris Technologies Global

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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