Anteris Technologies Global (NASDAQ:AVR) Stock Falls 7.5% After Analyst Downgrade

Shares of Anteris Technologies Global Corp. (NASDAQ:AVR) were down 7.5% 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 were traded 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.

AVR has been the topic of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of Anteris Technologies Global in a research note on Wednesday, October 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anteris Technologies Global in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.75.

Insider Activity at Anteris Technologies Global

In other news, major shareholder L1 Capital Pty Ltd acquired 272,695 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were bought at an average price of $7.18 per share, for a total transaction of $1,957,950.10. Following the completion of the purchase, the insider directly owned 6,358,271 shares of the company’s stock, valued at approximately $45,652,385.78. This trade represents a 4.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 1,554,730 shares of company stock worth $11,694,513. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Anteris Technologies Global

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Anteris Technologies Global during the 2nd quarter worth $56,846,000. ADAR1 Capital Management LLC raised its stake in shares of Anteris Technologies Global by 205.9% in the 1st quarter. ADAR1 Capital Management LLC now owns 3,789,132 shares of the company’s stock valued at $21,030,000 after purchasing an additional 2,550,355 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Anteris Technologies Global by 104.4% during the first 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 last quarter. Nantahala Capital Management LLC bought a new position in shares of Anteris Technologies Global during the second quarter worth about $33,325,850. Finally, Affinity Asset Advisors LLC lifted its position in shares of Anteris Technologies Global by 87.5% during the first quarter. Affinity Asset Advisors LLC now owns 912,397 shares of the company’s stock worth $5,064,000 after purchasing an additional 425,713 shares during the last quarter.

Anteris Technologies Global Stock Down 7.5%

The firm has a market capitalization of $528.40 million, a price-to-earnings ratio of -3.37 and a beta of 2.02. The stock has a 50 day moving average of $7.03 and a 200 day moving average of $7.38.

Anteris Technologies Global (NASDAQ:AVR) last released its earnings results on Tuesday, November 10th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $2.75 million. Anteris Technologies Global had a negative net margin of 4,637.48% and a negative return on equity of 57.15%. Analysts predict that Anteris Technologies Global Corp. will post -1.21 earnings per share for the current 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.