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

AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $10.09 per share, for a total transaction of $100,900.00. Following the completion of the purchase, the director now directly owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. This represents a 27.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AVITA Medical Trading Down 2.0 %

NASDAQ:RCEL opened at $9.75 on Friday. AVITA Medical, Inc. has a 52 week low of $7.51 and a 52 week high of $18.93. The firm has a 50-day moving average price of $10.40 and a two-hundred day moving average price of $10.63. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. The firm has a market cap of $255.65 million, a price-to-earnings ratio of -4.08 and a beta of 1.55.

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

Hedge Funds Weigh In On AVITA Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC increased its holdings in AVITA Medical by 24.7% during the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock worth $120,000 after buying an additional 1,858 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of AVITA Medical by 48.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock valued at $92,000 after acquiring an additional 2,324 shares during the period. FMR LLC increased its stake in shares of AVITA Medical by 126.9% during the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after purchasing an additional 2,376 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of AVITA Medical in the 4th quarter worth approximately $38,000. Finally, Huntington National Bank purchased a new position in AVITA Medical in the third quarter valued at approximately $32,000. 27.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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