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

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average cost of $10.25 per share, with a total value of $10,250.00. Following the completion of the purchase, the chief financial officer now directly owns 24,734 shares of the company’s stock, valued at $253,523.50. This represents a 4.21 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

AVITA Medical Trading Down 1.2 %

RCEL traded down $0.12 on Wednesday, hitting $10.22. The company had a trading volume of 153,353 shares, compared to its average volume of 236,906. The business’s fifty day simple moving average is $10.57 and its 200 day simple moving average is $10.63. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. AVITA Medical, Inc. has a 12-month low of $7.51 and a 12-month high of $18.93. The company has a market cap of $267.97 million, a PE ratio of -4.28 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL) last announced its earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $18.41 million during the quarter, compared to analysts’ expectations of $18.40 million. Equities research analysts expect that AVITA Medical, Inc. will post -1.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on RCEL. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a report on Tuesday, December 24th. D. Boral Capital reissued a “buy” rating and set a $25.00 price target on shares of AVITA Medical in a research note on Friday, February 14th. 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 report on Friday, November 8th. Finally, Lake Street Capital decreased their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AVITA Medical presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RCEL. Delta Investment Management LLC lifted its holdings in shares of AVITA Medical by 263.7% in the 4th 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 during the last quarter. Millennium Management LLC purchased a new stake in AVITA Medical in the 4th quarter worth about $426,000. Deutsche Bank AG lifted its stake in AVITA Medical by 78.9% in the fourth quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock worth $292,000 after purchasing an additional 10,063 shares during the last quarter. Bank of America Corp DE boosted its position in shares of AVITA Medical by 16.2% during the fourth 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 purchased a new position in shares of AVITA Medical during the fourth quarter valued at approximately $38,000. 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.