Avacta Group Plc (OTCMKTS:AVCTF) Sees Large Increase in Short Interest

Avacta Group Plc (OTCMKTS:AVCTF) saw a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 234,775 shares, a growth of 2,347,650.0% from the October 15th total of 10 shares. Based on an average daily trading volume, of 36 shares, the days-to-cover ratio is presently 6,521.5 days.

Avacta Group Stock Performance

AVCTF stock remained flat at $0.77 during mid-day trading on Tuesday. The firm has a fifty day moving average price of $0.90 and a 200 day moving average price of $0.92. Avacta Group has a 1 year low of $0.74 and a 1 year high of $1.23.

Avacta Group Company Profile

Avacta Group is a UK-based biotechnology company focused on developing cancer therapies. Its proprietary pre|CISION platform is designed to keep drug payloads inactive in circulation and activate them within the tumor environment, with the goal of concentrating treatment at the tumor site. The company’s clinical-stage pipeline includes AVA6000, a doxorubicin prodrug designed to be activated by an enzyme found in many tumors. Avacta has also developed Affimer, an engineered protein-binding technology, and has pursued diagnostic applications alongside its earlier research activities.