AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara Purchases 10,000 Shares

AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price 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. The trade was a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AVITA Medical Trading Down 2.6 %

NASDAQ:RCEL opened at $9.95 on Friday. AVITA Medical, Inc. has a 1-year low of $7.51 and a 1-year high of $18.93. The business’s 50-day moving average price is $10.45 and its two-hundred day moving average price is $10.62. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. The firm has a market capitalization of $260.87 million, a price-to-earnings ratio of -4.16 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL) last announced its earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share (EPS) 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 analyst estimates of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. On average, equities analysts expect that AVITA Medical, Inc. will post -1.01 earnings per share for the current year.

Institutional Trading of AVITA Medical

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after acquiring an additional 22,032 shares in the last quarter. Barclays PLC grew its position in shares of AVITA Medical by 340.0% in the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after buying an additional 28,979 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AVITA Medical by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock valued at $6,373,000 after buying an additional 8,361 shares during the last quarter. State Street Corp grew its position in shares of AVITA Medical by 2.4% in the 3rd 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. Finally, JPMorgan Chase & Co. boosted its position in shares of AVITA Medical by 38.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock valued at $347,000 after purchasing an additional 8,985 shares in the last quarter. 27.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RCEL shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a research report on Tuesday, December 24th. D. Boral Capital lowered their price target on AVITA Medical from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. Finally, Lake Street Capital decreased their target price on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, AVITA Medical has a consensus rating of “Moderate Buy” and an average target price of $17.25.

AVITA Medical Company Profile

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.