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 stock was purchased 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 owns 24,734 shares of the company’s stock, valued at $253,523.50. The trade was a 4.21 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

AVITA Medical Trading Down 2.6 %

NASDAQ:RCEL opened at $9.95 on Friday. AVITA Medical, Inc. has a 1-year low of $7.51 and a 1-year high of $18.93. The business’s 50-day moving average price is $10.45 and its two-hundred day moving average price is $10.62. 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 firm has a market capitalization of $260.87 million, a price-to-earnings ratio of -4.16 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL) last released its earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $18.40 million. On average, equities analysts expect that AVITA Medical, Inc. will post -1.01 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On AVITA Medical

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of AVITA Medical during the fourth quarter worth about $38,000. Huntington National Bank acquired a new stake in shares of AVITA Medical during the third quarter worth about $32,000. FMR LLC raised 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 during the period. Russell Investments Group Ltd. raised its position in shares of AVITA Medical by 48.0% during the fourth quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock worth $92,000 after purchasing an additional 2,324 shares during the period. Finally, Quest Partners LLC raised 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 during the period. Institutional investors and hedge funds 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.