AVITA Medical, Inc. (NASDAQ:RCEL) CFO Purchases $10,250.00 in Stock

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole purchased 1,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was acquired at an average cost of $10.25 per share, for a total transaction of $10,250.00. Following the acquisition, the chief financial officer now owns 24,734 shares in the company, valued at approximately $253,523.50. This represents a 4.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

AVITA Medical Price Performance

Shares of AVITA Medical stock opened at $9.75 on Friday. 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 52-week low of $7.51 and a 52-week high of $18.93. The company has a fifty day moving average of $10.40 and a 200-day moving average of $10.63. The stock has a market capitalization 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 earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14). The company had revenue of $18.41 million for 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%. Equities research analysts expect that AVITA Medical, Inc. will post -0.95 EPS for the current year.

Analyst Ratings Changes

RCEL has been the topic of several research analyst reports. D. Boral Capital decreased their price objective on shares of AVITA Medical from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a report on Tuesday, December 24th. Piper Sandler reissued a “neutral” rating and issued a $12.00 target price (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Finally, Lake Street Capital dropped their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in AVITA Medical by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company’s stock worth $18,220,000 after acquiring an additional 5,767 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AVITA Medical by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 597,595 shares of the company’s stock worth $7,650,000 after purchasing an additional 3,159 shares during the last quarter. State Street Corp increased its holdings in AVITA Medical by 2.4% during the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after purchasing an additional 11,997 shares during the period. Essex Investment Management Co. LLC raised its position in AVITA Medical by 13.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock valued at $3,343,000 after purchasing an additional 30,077 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in AVITA Medical by 5.7% in the 4th quarter. Northern Trust Corp now owns 228,720 shares of the company’s stock worth $2,928,000 after buying an additional 12,253 shares during the period. 27.66% of the stock is owned by hedge funds and other institutional investors.

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.