AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole Buys 975 Shares of Stock

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole bought 975 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were acquired at an average cost of $12.46 per share, for a total transaction of $12,148.50. Following the transaction, the chief financial officer now directly owns 23,734 shares in the company, valued at approximately $295,725.64. This represents a 4.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

AVITA Medical Trading Down 3.2 %

Shares of AVITA Medical stock opened at $12.44 on Friday. The company’s fifty day moving average is $11.48 and its two-hundred day moving average is $9.91. AVITA Medical, Inc. has a 1 year low of $7.51 and a 1 year high of $18.93. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. The company has a market capitalization of $326.18 million, a P/E ratio of -5.58 and a beta of 1.60.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The firm had revenue of $19.55 million during the quarter, compared to analysts’ expectations of $19.65 million. During the same quarter last year, the business earned ($0.34) earnings per share. Analysts forecast that AVITA Medical, Inc. will post -2.35 earnings per share for the current year.

Hedge Funds Weigh In On AVITA Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of AVITA Medical by 340.0% in the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after buying an additional 28,979 shares during the period. Geode Capital Management LLC raised its position in AVITA Medical by 1.4% in the third quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after acquiring an additional 8,361 shares in the last quarter. Jane Street Group LLC lifted its holdings in AVITA Medical by 32.7% in the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after acquiring an additional 22,032 shares during the period. State Street Corp lifted its holdings in AVITA Medical by 2.4% in the third quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after acquiring an additional 11,997 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of AVITA Medical by 24.3% during the 3rd quarter. IHT Wealth Management LLC now owns 28,100 shares of the company’s stock worth $301,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a research note on Friday, August 9th.

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.