Intech Investment Management LLC Purchases Shares of 10,561 AVITA Medical, Inc. (NASDAQ:RCEL)

Intech Investment Management LLC acquired a new position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,561 shares of the company’s stock, valued at approximately $135,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Essex Investment Management Co. LLC lifted its stake in AVITA Medical by 13.0% in the fourth quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock worth $3,343,000 after acquiring an additional 30,077 shares during the last quarter. Barclays PLC lifted its position in shares of AVITA Medical by 340.0% during the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after purchasing an additional 28,979 shares during the last quarter. Jane Street Group LLC grew its stake in shares of AVITA Medical by 32.7% during the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after purchasing an additional 22,032 shares in the last quarter. SG Americas Securities LLC purchased a new position in AVITA Medical in the fourth quarter valued at $190,000. Finally, State Street Corp increased its holdings in AVITA Medical by 2.4% in the third quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after buying an additional 11,997 shares during the last quarter. 27.66% of the stock is owned by institutional investors and hedge funds.

AVITA Medical Stock Up 2.4 %

RCEL opened at $9.22 on Friday. The stock has a market capitalization of $241.73 million, a P/E ratio of -3.86 and a beta of 1.57. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. AVITA Medical, Inc. has a one year low of $7.51 and a one year high of $16.65. The business’s 50-day simple moving average is $9.12 and its 200-day simple moving average is $10.62.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). The firm had revenue of $18.41 million during the quarter, compared to analysts’ expectations of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. Analysts anticipate that AVITA Medical, Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling

In other AVITA Medical news, Director Robert Mcnamara bought 10,000 shares of AVITA Medical stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $10.09 per share, with a total value of $100,900.00. Following the completion of the acquisition, the director now owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RCEL. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Lake Street Capital lowered their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $22.00 price target on shares of AVITA Medical in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

About AVITA Medical

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.