AVITA Medical, Inc. (NASDAQ:RCEL) CFO Purchases $10,250.00 in Stock

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average price of $10.25 per share, for a total transaction 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. The trade was a 4.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AVITA Medical Stock Performance

NASDAQ RCEL traded down $0.12 on Wednesday, hitting $10.22. 153,353 shares of the company traded hands, compared to its average volume of 236,906. The business’s 50 day moving average price is $10.57 and its 200-day moving average price is $10.63. AVITA Medical, Inc. has a 52-week low of $7.51 and a 52-week 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 capitalization of $267.97 million, a price-to-earnings ratio of -4.28 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL) last posted 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). The company had revenue of $18.41 million for the quarter, compared to analysts’ expectations of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. Equities analysts expect that AVITA Medical, Inc. will post -1.3 earnings per share for the current year.

Institutional Trading of AVITA Medical

A number of hedge funds and other institutional investors have recently modified their holdings of RCEL. Huntington National Bank bought a new position in AVITA Medical in the 3rd quarter worth $32,000. BNP Paribas Financial Markets bought a new position in shares of AVITA Medical in the fourth quarter worth about $38,000. FMR LLC grew its position in shares of AVITA Medical by 126.9% during the third quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after purchasing an additional 2,376 shares in the last quarter. Quest Partners LLC grew its position in shares of AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after purchasing an additional 5,484 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in AVITA Medical by 48.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock valued at $92,000 after purchasing an additional 2,324 shares during the period. 27.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCEL has been the topic of several research analyst reports. D. Boral Capital reissued a “buy” rating and set a $25.00 price target on shares of AVITA Medical in a report on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price on shares of AVITA Medical in a report on Tuesday, December 24th. Lake Street Capital cut their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, AVITA Medical presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.