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

AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $10.09 per share, for a total transaction of $100,900.00. Following the acquisition, the director now owns 45,749 shares of the company’s stock, valued at $461,607.41. This trade represents a 27.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AVITA Medical Stock Performance

Shares of AVITA Medical stock opened at $9.75 on Friday. The business has a 50-day moving average price of $10.40 and a two-hundred day moving average price of $10.63. AVITA Medical, Inc. has a 1-year low of $7.51 and a 1-year high of $18.93. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. The company has a market cap of $255.65 million, a P/E ratio of -4.08 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL) last released its earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14). AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. The business had revenue of $18.41 million for the quarter, compared to analyst estimates of $18.40 million. As a group, analysts anticipate that AVITA Medical, Inc. will post -0.95 EPS for the current year.

Institutional Trading of AVITA Medical

Hedge funds have recently modified their holdings of the stock. Delta Investment Management LLC boosted its stake in AVITA Medical by 263.7% during the fourth quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock worth $672,000 after acquiring an additional 38,042 shares in the last quarter. Millennium Management LLC acquired a new position in shares of AVITA Medical during the fourth quarter valued at about $426,000. Deutsche Bank AG boosted its position in shares of AVITA Medical by 78.9% during the 4th quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock worth $292,000 after purchasing an additional 10,063 shares in the last quarter. Bank of America Corp DE grew its stake in shares of AVITA Medical by 16.2% in the 4th quarter. Bank of America Corp DE now owns 38,121 shares of the company’s stock valued at $488,000 after buying an additional 5,324 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in AVITA Medical in the 4th quarter valued at about $38,000. Institutional investors own 27.66% of the company’s stock.

Analyst Ratings Changes

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