Anteris Technologies Global (NASDAQ:AVR) Shares Down 7.5% on Analyst Downgrade

Key Points

• Anteris Technologies Global shares fell 7.5% to $5.42 after Barclays cut its price target from $10 to $9, maintaining an equal-weight rating.
• Analyst views are mixed: the stock has a consensus “Hold” rating and a $13.75 average price target, with three Buy, one Hold, and one Sell rating.
• Quarterly EPS loss was narrower than expected at $0.28 per share, but revenue of $0.52 million missed the $2.75 million consensus estimate. Insiders also bought more than 1.55 million shares during the latest quarter.

Anteris Technologies Global Corp. (NASDAQ:AVR - Get Free Report)'s share price fell 7.5% during mid-day trading on Friday after Barclays lowered their price target on the stock from $10.00 to $9.00. Barclays currently has an equal weight rating on the stock. Anteris Technologies Global traded as low as $5.38 and last traded at $5.42. Approximately 685,524 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,155,886 shares. The stock had previously closed at $5.86.

Several other equities research analysts have also commented on AVR. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anteris Technologies Global in a research note on Wednesday, August 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 target price on shares of Anteris Technologies Global in a research report on Wednesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $13.75.

Insiders Place Their Bets

In other Anteris Technologies Global news, major shareholder L1 Capital Pty Ltd bought 648,455 shares of the business's stock in a transaction on Monday, October 5th. The stock was bought at an average price of $7.51 per share, with a total value of $4,869,897.05. Following the completion of the purchase, the insider directly owned 12,778,380 shares in the company, valued at $95,965,633.80. The trade was a 5.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have bought 1,554,730 shares of company stock valued at $11,694,513. Insiders own 4.50% of the company's stock.

Institutional Trading of Anteris Technologies Global

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Anteris Technologies Global in the 2nd quarter valued at about $56,846,000. Bank of New York Mellon Corp purchased a new stake in shares of Anteris Technologies Global during the second quarter worth approximately $2,292,000. ADAR1 Capital Management LLC purchased a new stake in shares of Anteris Technologies Global during the second quarter worth approximately $30,979,000. Bank of America Corp DE acquired a new stake in Anteris Technologies Global in the second quarter valued at approximately $1,907,000. Finally, Perceptive Advisors LLC raised its holdings in Anteris Technologies Global by 104.4% in the first quarter. Perceptive Advisors LLC now owns 3,425,476 shares of the company's stock valued at $19,011,000 after acquiring an additional 1,750,000 shares in the last quarter.

Anteris Technologies Global Stock Down 7.5%

The company's fifty day moving average is $7.03 and its two-hundred day moving average is $7.38. The stock has a market cap of $528.40 million, a price-to-earnings ratio of -3.37 and a beta of 2.02.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. Anteris Technologies Global had a negative return on equity of 57.15% and a negative net margin of 4,637.48%. The business had revenue of $0.52 million for the quarter, compared to the consensus estimate of $2.75 million. Sell-side analysts predict that Anteris Technologies Global Corp. will post -1.21 EPS for the current fiscal year.

Anteris Technologies Global Company Profile

Anteris Technologies Global is a medical technology company focused on developing treatments for structural heart disease, particularly aortic valve conditions. Its work centers on transcatheter heart valve technology, which is designed to replace a damaged valve through a minimally invasive procedure. The company's lead product is the DurAVR transcatheter heart valve. It is made using Anteris' ADAPT tissue technology, which processes bovine pericardial tissue for use in medical devices. The valve is designed to resemble the structure and function of a healthy aortic valve.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.