AVITA Medical, Inc. (NASDAQ:RCEL) CFO Acquires $12,148.50 in Stock

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole purchased 975 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average cost of $12.46 per share, with a total value of $12,148.50. Following the completion of the acquisition, the chief financial officer now directly owns 23,734 shares of the company’s stock, valued at $295,725.64. This represents a 4.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

AVITA Medical Stock Down 3.2 %

Shares of NASDAQ RCEL traded down $0.41 on Thursday, hitting $12.44. The company had a trading volume of 79,556 shares, compared to its average volume of 178,482. AVITA Medical, Inc. has a 12-month low of $7.51 and a 12-month high of $18.93. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $326.18 million, a P/E ratio of -5.76 and a beta of 1.60. The business has a 50 day moving average of $11.44 and a two-hundred day moving average of $9.89.

AVITA Medical (NASDAQ:RCEL) last announced its earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The business had revenue of $19.55 million during the quarter, compared to analyst estimates of $19.65 million. AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. During the same period in the previous year, the company earned ($0.34) earnings per share. As a group, equities research analysts forecast that AVITA Medical, Inc. will post -2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AVITA Medical

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in AVITA Medical by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company’s stock valued at $22,572,000 after buying an additional 15,356 shares in the last quarter. Rhumbline Advisers lifted its stake in AVITA Medical by 13.9% during the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock worth $289,000 after purchasing an additional 4,463 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in AVITA Medical during the second quarter valued at $86,000. Essex Investment Management Co. LLC acquired a new stake in shares of AVITA Medical during the third quarter worth $2,477,000. Finally, Huntington National Bank bought a new position in shares of AVITA Medical in the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

Analyst Ratings Changes

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

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.