Insider Buying: AVITA Medical, Inc. (NASDAQ:RCEL) Director Purchases 10,000 Shares of Stock

AVITA Medical, Inc. (NASDAQ:RCEL - Get Free Report) Director Robert Mcnamara bought 10,000 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $10.09 per share, for a total transaction of $100,900.00. Following the acquisition, the director now directly owns 45,749 shares of the company's stock, valued at approximately $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

AVITA Medical Stock Performance

AVITA Medical stock traded down $0.20 during mid-day trading on Friday, reaching $9.75. 259,662 shares of the company's stock were exchanged, compared to its average volume of 178,464. AVITA Medical, Inc. has a one year low of $7.51 and a one year high of $18.93. The business's fifty day simple moving average is $10.40 and its 200 day simple moving average is $10.63. 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 firm has a market capitalization of $255.65 million, a PE ratio of -4.08 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $18.40 million. On average, sell-side analysts expect that AVITA Medical, Inc. will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On AVITA Medical

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in AVITA Medical by 0.4% during the fourth 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 lifted its stake in AVITA Medical by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 597,595 shares of the company's stock worth $7,650,000 after purchasing an additional 3,159 shares during the last quarter. State Street Corp lifted its stake in AVITA Medical by 2.4% during the third quarter. State Street Corp now owns 519,997 shares of the company's stock worth $5,574,000 after purchasing an additional 11,997 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in AVITA Medical by 13.0% during the fourth quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company's stock worth $3,343,000 after purchasing an additional 30,077 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in AVITA Medical by 5.7% during the fourth quarter. Northern Trust Corp now owns 228,720 shares of the company's stock worth $2,928,000 after purchasing an additional 12,253 shares during the last quarter. Institutional investors own 27.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RCEL. Piper Sandler restated 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. D. Boral Capital dropped their target price on AVITA Medical from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday. Cantor Fitzgerald restated an "overweight" rating and issued a $21.00 target price on shares of AVITA Medical in a report on Tuesday, December 24th. Finally, Lake Street Capital dropped their target price on AVITA Medical from $20.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued 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.

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.