Avita Medical (NASDAQ:RCEL) Director Joseph Fralin Woody Buys 10,000 Shares

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody purchased 10,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price of $4.30 per share, for a total transaction of $43,000.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $43,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Avita Medical Stock Down 0.7%

Shares of RCEL opened at $4.16 on Thursday. Avita Medical Inc. has a 12-month low of $3.22 and a 12-month high of $7.12. The firm has a market capitalization of $128.04 million, a price-to-earnings ratio of -2.65 and a beta of 1.87. The stock’s 50-day moving average price is $4.34 and its 200 day moving average price is $4.11.

Avita Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The firm had revenue of $19.25 million for the quarter, compared to the consensus estimate of $18.30 million. Equities research analysts expect that Avita Medical Inc. will post -1.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RCEL shares. Lake Street Capital upgraded Avita Medical from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.50 to $6.00 in a research note on Friday, May 15th. Northland Securities started coverage on Avita Medical in a research note on Thursday, March 5th. They set an “outperform” rating and a $10.00 price target on the stock. Wall Street Zen lowered Avita Medical from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Avita Medical in a research note on Friday, March 27th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $10.00 price objective on shares of Avita Medical in a report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.25.

Institutional Investors Weigh In On Avita Medical

A number of institutional investors have recently added to or reduced their stakes in RCEL. Deutsche Bank AG boosted its holdings in Avita Medical by 1,351.5% during the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after purchasing an additional 7,352 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Avita Medical by 122.2% during the fourth quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock valued at $28,000 after purchasing an additional 4,425 shares in the last quarter. Aristides Capital LLC acquired a new stake in Avita Medical during the fourth quarter valued at approximately $48,000. R Squared Ltd acquired a new stake in Avita Medical during the first quarter valued at approximately $57,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Avita Medical during the second quarter valued at approximately $58,000. 27.66% of the stock is owned by institutional investors and hedge funds.

Avita Medical Company Profile

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.