The Anteris (ASX:AVR) share price is down today but has soared 150% in 3 months

The Anteris (ASX:AVR) share price exploded 150% higher over the past 3 months. Here's a summary of the latest results and today's ASX reply.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Anteris Technologies Ltd (ASX: AVR) share price has exploded approximately 150% higher over the past three months. At the time of writing, however, Anteris shares are trading 8% lower at $10.83.

Less than two weeks ago, the Anteris share price zoomed up 23% following the release of its latest investor presentation. The stock has been on the rise since the release of its most recent earnings, despite not being particularly impressive. However, the company did announce a number of capital raising exercises.

Here's a closer look at the latest we've learned about Anteris.

Anteris share price climbs off weak results

Anteris reported a 58% revenue fall for the period ended 31 December 2020 (FY20). Earnings before interest, tax, depreciation and amortisation (EBITDA) tumbled to a loss of $13.7 million.

The company's year-end cash balance was $4.4 million.

The business posted an FY20 net loss after tax of $15.3 million. Anteris advised that the loss is associated with expenses relating to the development of its DurAVRTM aortic replacement valve.

Funding grants and new FDA approval

Anteris was granted $2.3 million in government grants during FY20. The business further notes that it secured a funding package of up to $20 million with New York investment fund Mercer Street Global Opportunity Fund, LLC.

In December 2020, Anteris raised $1.1 million in a private placement to sophisticated investors as part of a broader funding package.

Additionally, Anteris believes that its obtainment of a US Food and Drug Administration (FDA) approval for its transcatheter aortic valve replacement (TAVR) product in younger patients will lead to growth.

ASX queries Anteris

Intraday trading volumes were double the five-day average yesterday as the Anteris share price pumped. Total volume finished the day at 77.9K.

This resulted in an ASX query to which the company responded today. The ASX letter also asked about the jump in share price from $6.64 on 25 February 2021 to yesterday's high of $11.95.

Anteris replied that it is not aware of anything that would be moving the market. The company also confirmed its compliance with all of the ASX listing rules.

Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A couple stares at the tv in shock, one holding the remote up ready to press.
Mergers & Acquisitions

Telstra share price climbs amid $3.4b Foxtel sale

Who is buying the Foxtel business? Let's find out.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Share Market News

Brokers say these ASX 200 growth stocks could rise 50% to 70%

Analysts think these shares could be dirt cheap and destined to generate big returns.

Read more »

Two people having a meeting using a laptop and tablet to discuss Seven West Media's balance sheet
Broker Notes

Why these ASX shares could be top SMSF options in 2025

Analysts are bullish on these high-quality shares. Let's find out why.

Read more »

The words short selling in red against a black background
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Monday

A good start to the week is expected for Aussie investors. Here's what to watch.

Read more »

A businessman compares the growth trajectory of property versus shares.
Opinions

What's the outlook for shares vs. property in 2025?

The experts have put out their new year predictions...

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

These ASX 200 shares could rise 20% to 40% in 2025

Analysts are tipping these shares to deliver huge returns for investors next year.

Read more »