David D. O’toole Buys 1,000 Shares of AVITA Medical, Inc. (NASDAQ:RCEL) Stock

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole bought 1,000 shares of AVITA Medical stock in a transaction dated Wednesday, February 19th. The stock was purchased at an average cost of $10.25 per share, for a total transaction of $10,250.00. Following the purchase, the chief financial officer now owns 24,734 shares of the company’s stock, valued at approximately $253,523.50. This trade represents a 4.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

AVITA Medical Stock Down 1.2 %

Shares of AVITA Medical stock opened at $10.22 on Thursday. 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 company has a market cap of $267.97 million, a P/E ratio of -4.28 and a beta of 1.55. The firm’s 50 day moving average price is $10.51 and its 200-day moving average price is $10.62. AVITA Medical, Inc. has a 52-week low of $7.51 and a 52-week high of $18.93.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. The business had revenue of $18.41 million during the quarter, compared to analyst estimates of $18.40 million. On average, sell-side analysts predict that AVITA Medical, Inc. will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On AVITA Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in AVITA Medical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company’s stock worth $18,220,000 after purchasing an additional 5,767 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AVITA Medical by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 597,595 shares of the company’s stock valued at $7,650,000 after buying an additional 3,159 shares during the last quarter. State Street Corp increased its position in shares of 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 acquiring an additional 11,997 shares during the period. Essex Investment Management Co. LLC increased its position in shares of AVITA Medical by 13.0% in the 4th quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock valued at $3,343,000 after acquiring an additional 30,077 shares during the period. Finally, Northern Trust Corp raised its stake in AVITA Medical by 5.7% in the 4th quarter. Northern Trust Corp now owns 228,720 shares of the company’s stock worth $2,928,000 after acquiring an additional 12,253 shares during the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RCEL has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Lake Street Capital reduced their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Piper Sandler reissued a “neutral” rating and set a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AVITA Medical in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.