Avita Medical (NASDAQ:RCEL) Director Purchases $41,900.00 in Stock

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody purchased 10,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.19 per share, with a total value of $41,900.00. Following the completion of the transaction, the director owned 102,761 shares of the company’s stock, valued at approximately $430,568.59. The trade was a 10.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, June 3rd, Joseph Fralin Woody purchased 10,000 shares of Avita Medical stock. The shares were bought at an average price 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 shares were bought at an average price of $4.30 per share, with a total value of $43,000.00.

Avita Medical Stock Down 1.0%

Shares of RCEL traded down $0.04 during trading on Tuesday, reaching $4.12. 201,298 shares of the company traded hands, compared to its average volume of 236,220. Avita Medical Inc. has a twelve month low of $3.22 and a twelve month high of $7.12. The stock has a market cap of $126.81 million, a PE ratio of -2.62 and a beta of 1.87. The stock has a 50-day simple moving average of $4.36 and a 200-day simple moving average of $4.12.

Avita Medical (NASDAQ:RCEL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). The company had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.30 million. On average, equities research analysts predict that Avita Medical Inc. will post -1.29 EPS for the current year.

Hedge Funds Weigh In On Avita Medical

A number of large investors have recently bought and sold shares of RCEL. NewEdge Advisors LLC grew its stake in shares of Avita Medical by 8,588.5% during the 1st 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. Bank of America Corp DE lifted its holdings in shares of Avita Medical by 145.3% in the first quarter. Bank of America Corp DE now owns 62,128 shares of the company’s stock valued at $230,000 after purchasing an additional 36,799 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Avita Medical in the first quarter valued at about $83,000. R Squared Ltd purchased a new stake in shares of Avita Medical in the first quarter valued at about $57,000. Finally, Abel Hall LLC purchased a new stake in shares of Avita Medical in the first quarter valued at about $62,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

Wall Street Analyst Weigh In

RCEL has been the subject of several analyst reports. Northland Securities initiated coverage on shares of Avita Medical in a report on Thursday, March 5th. They set an “outperform” rating and a $10.00 price target for the company. Wall Street Zen downgraded shares of Avita Medical from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Lake Street Capital upgraded shares of Avita Medical from a “hold” rating to a “buy” rating and upped their price target for the company from $3.50 to $6.00 in a research report on Friday, May 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Friday, March 27th. Finally, D. Boral Capital restated a “buy” rating and set a $10.00 price objective on shares of Avita Medical in a research report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.