AVITA Medical, Inc. (NASDAQ:RCEL) Short Interest Update

AVITA Medical, Inc. (NASDAQ:RCEL - Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,350,000 shares, a growth of 35.8% from the February 28th total of 1,730,000 shares. Currently, 9.5% of the shares of the stock are short sold. Based on an average trading volume of 215,900 shares, the days-to-cover ratio is currently 10.9 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. D. Boral Capital reiterated a "buy" rating and set a $22.00 price objective on shares of AVITA Medical in a research report on Tuesday, March 18th. Lake Street Capital lowered their price objective 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 issued a $21.00 target price on shares of AVITA Medical in a research report on Tuesday, December 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.25.

Insider Buying and Selling at AVITA Medical

In other AVITA Medical news, Director Robert Mcnamara bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost 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 $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. 1.82% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On AVITA Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCEL. AlphaQuest LLC grew its position in AVITA Medical by 24.7% in the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company's stock worth $120,000 after acquiring an additional 1,858 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 purchasing an additional 2,324 shares during the last quarter. FMR LLC boosted its holdings in AVITA Medical by 126.9% in the third quarter. FMR LLC now owns 4,248 shares of the company's stock worth $46,000 after purchasing an additional 2,376 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in AVITA Medical during the fourth quarter worth $38,000. Finally, Geode Capital Management LLC raised its holdings in 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 in the last quarter. Institutional investors own 27.66% of the company's stock.

AVITA Medical Stock Up 1.2 %

RCEL stock traded up $0.10 during midday trading on Wednesday, reaching $8.27. The company had a trading volume of 9,854 shares, compared to its average volume of 186,624. The company has a 50 day moving average of $9.10 and a two-hundred day moving average of $10.61. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. AVITA Medical has a 1 year low of $7.00 and a 1 year high of $15.70. The company has a market capitalization of $216.82 million, a P/E ratio of -3.46 and a beta of 1.57.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $18.41 million for the quarter, compared to analyst estimates of $18.40 million. On average, equities research analysts expect that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

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.