Joseph Fralin Woody Buys 5,200 Shares of Avita Medical (NASDAQ:RCEL) Stock

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody bought 5,200 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $4.00 per share, with a total value of $20,800.00. Following the acquisition, the director owned 107,961 shares in the company, valued at approximately $431,844. This represents a 5.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Joseph Fralin Woody also recently made the following trade(s):

• On Tuesday, June 9th, Joseph Fralin Woody bought 10,000 shares of Avita Medical stock. The stock was purchased at an average cost of $4.19 per share, with a total value of $41,900.00.
• On Wednesday, June 3rd, Joseph Fralin Woody bought 10,000 shares of Avita Medical stock. The stock was purchased at an average cost of $4.09 per share, with a total value of $40,900.00.
• On Monday, June 1st, Joseph Fralin Woody purchased 10,000 shares of Avita Medical stock. The stock was bought at an average cost of $4.30 per share, with a total value of $43,000.00.

Avita Medical Trading Down 3.6%

Shares of RCEL stock opened at $3.97 on Friday. The stock has a market cap of $122.20 million, a price-to-earnings ratio of -2.53 and a beta of 1.87. The stock has a 50-day moving average of $4.38 and a 200-day moving average of $4.13. Avita Medical Inc. has a 1-year low of $3.22 and a 1-year high of $7.12.

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

Institutional Investors Weigh In On Avita Medical

Several large investors have recently added to or reduced their stakes in RCEL. Geode Capital Management LLC grew its stake in Avita Medical by 44.6% during the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock worth $1,654,000 after purchasing an additional 147,722 shares during the period. Divisadero Street Capital Management LP acquired a new stake in Avita Medical during the third quarter worth approximately $511,000. AQR Capital Management LLC acquired a new stake in Avita Medical during the first quarter worth approximately $799,000. NewEdge Advisors LLC grew its stake in Avita Medical by 8,588.5% during the first quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock worth $321,000 after purchasing an additional 85,885 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in Avita Medical by 213.8% during the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after purchasing an additional 80,404 shares during the period. Institutional investors and hedge funds own 27.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RCEL. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research note on Friday, March 27th. Northland Securities began coverage on Avita Medical in a research note on Thursday, March 5th. They issued an “outperform” rating and a $10.00 price target for the company. Lake Street Capital raised Avita Medical from a “hold” rating to a “buy” rating and increased their price target for the company from $3.50 to $6.00 in a research note on Friday, May 15th. Wall Street Zen cut Avita Medical from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, D. Boral Capital reissued a “buy” rating and issued a $10.00 price target on shares of Avita Medical in a research note on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.25.

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.