AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara Purchases 10,000 Shares

AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of $10.09 per share, with a total value of $100,900.00. Following the completion of the acquisition, the director now directly owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. This trade represents a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

AVITA Medical Stock Performance

NASDAQ RCEL opened at $9.95 on Friday. The business has a 50 day simple moving average of $10.45 and a two-hundred day simple moving average of $10.62. AVITA Medical, Inc. has a 1-year low of $7.51 and a 1-year high of $18.93. The stock has a market capitalization of $260.87 million, a PE ratio of -4.16 and a beta of 1.55. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47.

AVITA Medical (NASDAQ:RCEL) last posted its earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14). The company had revenue of $18.41 million during 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%. On average, research analysts predict that AVITA Medical, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RCEL shares. Lake Street Capital lowered their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. 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 research report on Friday, November 8th. Finally, D. Boral Capital lowered their price target on AVITA Medical from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new stake in AVITA Medical during the 3rd quarter worth approximately $32,000. BNP Paribas Financial Markets acquired a new stake in shares of AVITA Medical in the fourth quarter valued at approximately $38,000. FMR LLC grew its position in AVITA Medical by 126.9% during the 3rd 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 last quarter. Quest Partners LLC increased its position in AVITA Medical by 269.4% in the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after acquiring an additional 5,484 shares during the period. Finally, Russell Investments Group Ltd. grew its position in AVITA Medical by 48.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock valued at $92,000 after buying an additional 2,324 shares during the last quarter. Hedge funds and other 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.