Intech Investment Management LLC Invests $135,000 in AVITA Medical, Inc. (NASDAQ:RCEL)

Intech Investment Management LLC purchased a new position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 10,561 shares of the company’s stock, valued at approximately $135,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RCEL. Jane Street Group LLC lifted its stake in shares of AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after acquiring an additional 22,032 shares during the period. Barclays PLC raised its holdings in AVITA Medical by 340.0% during the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after purchasing an additional 28,979 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $6,373,000 after purchasing an additional 8,361 shares during the period. State Street Corp boosted its holdings in AVITA Medical by 2.4% in the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after purchasing an additional 11,997 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in AVITA Medical by 38.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock worth $347,000 after purchasing an additional 8,985 shares during the period. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on RCEL shares. D. Boral Capital reissued a “buy” rating and issued a $22.00 price target on shares of AVITA Medical in a report on Tuesday, March 18th. Lake Street Capital decreased their target price on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a research note on Tuesday, December 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.25.

AVITA Medical Trading Up 2.4 %

NASDAQ:RCEL opened at $9.22 on Friday. AVITA Medical, Inc. has a 52-week low of $7.51 and a 52-week high of $16.65. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. The stock has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $10.62. The company has a market capitalization of $241.73 million, a PE ratio of -3.86 and a beta of 1.57.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly 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). AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. The business had revenue of $18.41 million during the quarter, compared to analysts’ expectations of $18.40 million. On average, equities research analysts expect that AVITA Medical, Inc. will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Mcnamara acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the purchase, the director now directly owns 45,749 shares in the company, valued at approximately $461,607.41. The trade was a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.82% of the stock is currently owned by company insiders.

AVITA Medical 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.