Avacta Group (LON:AVCT) Trading 11.2% Higher – Here’s Why

Shares of Avacta Group Plc (LON:AVCT) shot up 11.2% during mid-day trading on Thursday . The company traded as high as GBX 50.65 ($0.63) and last traded at GBX 49.21 ($0.62). 1,038,627 shares were traded during trading, a decline of 56% from the average session volume of 2,346,237 shares. The stock had previously closed at GBX 44.25 ($0.55).

Avacta Group Stock Performance

The company has a market capitalization of £175.57 million, a price-to-earnings ratio of -547.44 and a beta of 1.12. The company has a 50 day moving average price of GBX 54.43 and a 200 day moving average price of GBX 57.25. The company has a debt-to-equity ratio of 63.54, a quick ratio of 4.96 and a current ratio of 1.29.

Insiders Place Their Bets

In other Avacta Group news, insider Tony Peter Gardiner sold 500,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of GBX 71 ($0.89), for a total value of £355,000 ($445,029.46). Corporate insiders own 32.90% of the company’s stock.

Avacta Group Company Profile

Avacta Group Plc develops cancer therapies and diagnostics in the United Kingdom, France, North America, South Korea, and rest of Asia and Europe. The company operates through Diagnostics and Therapeutics segments. It develops products based on its proprietary Affimer and pre|CISION technology platforms.