What’s Next for Avacta Group Plc After Today’s Gap Down?

 What's Next for Avacta Group Plc After Today's Gap Down?

The stock of Avacta Group Plc (LON:AVCT) gapped down by GBX 2 today and has GBX 74.57 target or 8.00% below today’s GBX 81.05 share price. The 8 months technical chart setup indicates high risk for the GBX 56.35M company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 74.57 price target is reached, the company will be worth GBX 4.51M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 8.42% or GBX 7.45 on November 30, hitting GBX 81.05. About 92,423 shares traded hands or 521.29% up from the average. Avacta Group Plc (LON:AVCT) has declined 28.89% since May 3, 2016 and is downtrending. It has underperformed by 34.12% the S&P500.

Avacta Group Plc (LON:AVCT) Ratings Coverage

Out of 2 analysts covering Avacta Group PLC (LON:AVCT), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Avacta Group PLC has been the topic of 10 analyst reports since October 26, 2015 according to StockzIntelligence Inc. As per Monday, August 1, the company rating was maintained by Numis Securities. The company was maintained on Tuesday, November 29 by FinnCap. FinnCap maintained Avacta Group Plc (LON:AVCT) rating on Wednesday, November 23. FinnCap has “Corporate” rating and GBX 200 price target. As per Tuesday, November 1, the company rating was maintained by FinnCap. The rating was maintained by FinnCap on Monday, October 17 with “Corporate”. Numis Securities reinitiated Avacta Group Plc (LON:AVCT) on Monday, April 25 with “Buy” rating. The firm has “Buy” rating by Numis Securities given on Wednesday, August 3. The rating was maintained by FinnCap on Thursday, September 22 with “Corporate”.

More news for Avacta Group Plc (LON:AVCT) were recently published by: Uk.Finance.Yahoo.com, which released: “Avacta Group Plc (AVCT.L)” on January 07, 2014. Fool.Co.Uk‘s article titled: “Avacta Group Plc Jumps After Transformational Moderna Therapeutics Deal” and published on May 18, 2015 is yet another important article.

Avacta Group plc is the developer of Affimer bio therapeutics and research reagents. The company has a market cap of 56.35 million GBP. The Company’s divisions include Animal Health, which provides tools and contract services to assist diagnosis of conditions in animals to enable treatment for veterinarians, and Life Sciences, which provides reagents and arrays for diagnostics, drug and biomarker discovery in biotech research and development. It currently has negative earnings. The Company’s in-house programs include Oncology, which is engaged in developing combination therapies combining multiple immune checkpoint inhibitors by making bi- and tri-specific Affimer constructs, and Blood clotting disorders, which allows Affimer therapeutics to generate the modulate blood clot formation with the potential for anti-thrombotic, as well as wound healing therapies.

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