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 firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price of $10.25 per share, with a total value of $10,250.00. Following the acquisition, the chief financial officer now directly owns 24,734 shares of the company’s stock, valued at $253,523.50. This represents a 4.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

AVITA Medical Stock Down 2.0 %

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

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data 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 the consensus estimate of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. As a group, equities analysts expect that AVITA Medical, Inc. will post -0.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RCEL. Huntington National Bank purchased a new stake in shares of AVITA Medical during the third quarter worth $32,000. Quest Partners LLC boosted its stake in AVITA Medical by 269.4% in the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after purchasing an additional 5,484 shares during the period. FMR LLC boosted its stake in AVITA Medical by 126.9% in 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 period. IHT Wealth Management LLC grew its holdings in AVITA Medical by 24.3% during the 3rd quarter. IHT Wealth Management LLC now owns 28,100 shares of the company’s stock valued at $301,000 after buying an additional 5,500 shares in the last quarter. Finally, State Street Corp increased its position in shares of AVITA Medical by 2.4% during the third 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 period. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About AVITA Medical

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.