Anteris Technologies Global (NASDAQ:AVR) Shares Gap Up After Insider Buying Activity

Key Points

• AVR shares rose 4.2%, opening at $7.97 after closing at $7.61, following substantial insider purchases by major shareholder L1 Capital.
• L1 Capital bought a combined 397,226 shares for approximately $3.03 million, increasing its ownership to more than 5.2 million shares.
• Analyst sentiment is mixed but leans positive, with four Buy ratings and one Sell rating, an average “Moderate Buy” rating, and a $16 average price target. The company recently missed quarterly earnings and revenue estimates.

Anteris Technologies Global Corp. (NASDAQ:AVR - Get Free Report) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $7.61, but opened at $7.97. Anteris Technologies Global shares last traded at $7.9390, with a volume of 101,101 shares traded.

Specifically, major shareholder L1 Capital Pty Ltd purchased 322,940 shares of the business's stock in a transaction on Thursday, October 1st. The stock was acquired at an average price of $7.60 per share, with a total value of $2,454,344.00. Following the acquisition, the insider directly owned 5,200,767 shares of the company's stock, valued at $39,525,829.20. This trade represents a 6.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder L1 Capital Pty Ltd acquired 74,286 shares of Anteris Technologies Global stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $7.72 per share, with a total value of $573,487.92. Following the completion of the transaction, the insider owned 4,877,827 shares of the company's stock, valued at approximately $37,656,824.44. This trade represents a 1.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analyst Weigh In

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

Anteris Technologies Global Trading Up 4.2%

The company has a 50 day moving average of $8.51 and a 200-day moving average of $7.98. The firm has a market capitalization of $772.86 million, a P/E ratio of -4.07 and a beta of 1.87.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last posted its quarterly earnings data 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). Anteris Technologies Global had a negative return on equity of 77.69% and a negative net margin of 4,619.27%.The firm had revenue of $1.01 million for the quarter, compared to the consensus estimate of $1.50 million. During the same quarter in the previous year, the business earned ($0.58) EPS. As a group, sell-side analysts forecast that Anteris Technologies Global Corp. will post -1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Anteris Technologies Global

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Anteris Technologies Global in the 2nd quarter valued at about $56,846,000. Nantahala Capital Management LLC acquired a new stake in shares of Anteris Technologies Global in the second quarter valued at approximately $33,325,850. ADAR1 Capital Management LLC acquired a new stake in shares of Anteris Technologies Global in the second quarter valued at approximately $30,979,000. Perceptive Advisors LLC boosted its stake in shares of 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 buying an additional 1,750,000 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Anteris Technologies Global in the second quarter valued at approximately $6,350,000.

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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