Short Interest in AVITA Medical, Inc. (NASDAQ:RCEL) Rises By 23.9%

AVITA Medical, Inc. (NASDAQ:RCEL) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,680,000 shares, a growth of 23.9% from the April 30th total of 2,970,000 shares. Based on an average trading volume of 231,200 shares, the short-interest ratio is currently 15.9 days. Approximately 14.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, D. Boral Capital restated a “buy” rating and set a $22.00 target price on shares of AVITA Medical in a research report on Thursday, April 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RCEL. BNP Paribas Financial Markets acquired a new stake in AVITA Medical during the 4th quarter valued at $38,000. CWM LLC lifted its position in shares of AVITA Medical by 1,099.5% in the first quarter. CWM LLC now owns 4,918 shares of the company’s stock valued at $40,000 after acquiring an additional 4,508 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of AVITA Medical by 688.9% during the first quarter. GAMMA Investing LLC now owns 6,374 shares of the company’s stock valued at $52,000 after acquiring an additional 5,566 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of AVITA Medical during the first quarter valued at $53,000. Finally, Russell Investments Group Ltd. increased its position in AVITA Medical by 48.0% during the 4th 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 in the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

AVITA Medical Price Performance

Shares of NASDAQ:RCEL traded up $0.02 during trading on Tuesday, hitting $6.06. 71,738 shares of the stock were exchanged, compared to its average volume of 180,752. The company has a market cap of $160.20 million, a PE ratio of -2.54 and a beta of 1.74. 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 fifty day moving average price of $8.08 and a two-hundred day moving average price of $9.71. AVITA Medical has a 12-month low of $5.46 and a 12-month high of $14.16.

AVITA Medical (NASDAQ:RCEL) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.14). The firm had revenue of $18.51 million for the quarter, compared to analysts’ expectations of $33.15 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. On average, analysts forecast that AVITA Medical will post -0.95 EPS for the current year.

AVITA Medical Company Profile

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.