Insider Buying: AVITA Medical, Inc. (NASDAQ:RCEL) Director Acquires $100,900.00 in Stock

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

AVITA Medical Price Performance

Shares of RCEL stock opened at $9.75 on Friday. AVITA Medical, Inc. has a 1-year low of $7.51 and a 1-year high of $18.93. The stock’s 50-day moving average is $10.40 and its 200 day moving average is $10.65. The company has a market cap of $255.65 million, a P/E ratio of -4.08 and a beta of 1.55. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. The company had revenue of $18.41 million for the quarter, compared to the consensus estimate of $18.40 million. Research analysts predict that AVITA Medical, Inc. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On AVITA Medical

A number of institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its position in AVITA Medical by 24.7% during the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock valued at $120,000 after purchasing an additional 1,858 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in AVITA Medical by 48.0% in the fourth quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock worth $92,000 after acquiring an additional 2,324 shares in the last quarter. FMR LLC boosted its holdings in AVITA Medical by 126.9% in the third quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after acquiring an additional 2,376 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in AVITA Medical in the fourth quarter worth about $38,000. Finally, Huntington National Bank acquired a new stake in AVITA Medical in the third quarter worth about $32,000. Institutional investors own 27.66% of the company’s stock.

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.