Avita Medical (NASDAQ:RCEL) CFO David O’toole Purchases 3,000 Shares of Stock

Avita Medical Inc. (NASDAQ:RCEL) CFO David O’toole acquired 3,000 shares of Avita Medical stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average price of $4.15 per share, for a total transaction of $12,450.00. Following the completion of the acquisition, the chief financial officer owned 140,127 shares in the company, valued at $581,527.05. This trade represents a 2.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Avita Medical Stock Up 1.3%

Shares of RCEL traded up $0.06 during trading on Monday, reaching $4.85. 315,518 shares of the company traded hands, compared to its average volume of 227,430. Avita Medical Inc. has a twelve month low of $3.22 and a twelve month high of $10.29. The stock has a market cap of $148.56 million, a PE ratio of -2.77 and a beta of 1.78. The stock has a 50-day simple moving average of $3.82 and a 200-day simple moving average of $4.25.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Lake Street Capital upped their price objective on Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th. Zacks Research raised Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Avita Medical in a report on Monday, December 29th. BTIG Research raised Avita Medical from a “sell” rating to a “neutral” rating in a research report on Thursday, November 20th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $10.00 price objective on shares of Avita Medical in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Avita Medical currently has a consensus rating of “Hold” and an average target price of $5.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Avita Medical by 44.6% in the 4th quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock valued at $1,654,000 after acquiring an additional 147,722 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Avita Medical by 213.8% in the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock valued at $603,000 after purchasing an additional 80,404 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in Avita Medical in the third quarter valued at approximately $511,000. AQR Capital Management LLC purchased a new position in Avita Medical in the first quarter valued at approximately $799,000. Finally, Jane Street Group LLC raised its holdings in Avita Medical by 36.1% during the second quarter. Jane Street Group LLC now owns 86,730 shares of the company’s stock worth $459,000 after purchasing an additional 22,986 shares in the last quarter. 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.