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

AVITA Medical, Inc. (NASDAQ:RCEL - Get Free Report) was the target of a significant growth in short interest in 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 company are sold short. Based on an average daily volume of 215,900 shares, the short-interest ratio is currently 10.9 days.

Insider Buying and Selling

In related news, Director Robert Mcnamara acquired 10,000 shares of AVITA Medical stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $10.09 per share, with a total value of $100,900.00. Following the completion of the transaction, the director now directly owns 45,749 shares in the company, valued at $461,607.41. This trade represents a 27.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AVITA Medical

Several hedge funds and other institutional investors have recently modified their holdings of the company. Delta Investment Management LLC increased its stake in AVITA Medical by 263.7% during the 4th quarter. Delta Investment Management LLC now owns 52,470 shares of the company's stock valued at $672,000 after purchasing an additional 38,042 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of AVITA Medical in the 4th quarter worth about $426,000. Essex Investment Management Co. LLC raised its holdings 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 worth $3,343,000 after acquiring an additional 30,077 shares during the last quarter. Barclays PLC lifted its position in AVITA Medical by 340.0% in the 3rd quarter. Barclays PLC now owns 37,503 shares of the company's stock valued at $402,000 after acquiring an additional 28,979 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in AVITA Medical by 32.7% during the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company's stock valued at $958,000 after purchasing an additional 22,032 shares during the last quarter. Institutional investors own 27.66% of the company's stock.

Wall Street Analyst Weigh In

RCEL has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $21.00 target price on shares of AVITA Medical in a report on Tuesday, December 24th. D. Boral Capital restated a "buy" rating and set a $22.00 price objective on shares of AVITA Medical in a report on Friday. Finally, 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 report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.25.

AVITA Medical Trading Down 0.1 %

Shares of AVITA Medical stock traded down $0.01 during trading on Friday, hitting $7.50. The company's stock had a trading volume of 456,754 shares, compared to its average volume of 189,928. The stock has a market cap of $196.64 million, a price-to-earnings ratio of -3.14 and a beta of 1.60. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47. AVITA Medical has a 52 week low of $6.94 and a 52 week high of $15.66. The stock has a 50-day moving average price of $9.06 and a two-hundred day moving average price of $10.57.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14). The company had revenue of $18.41 million for the quarter, compared to analyst estimates of $18.40 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. Equities research analysts anticipate that AVITA Medical will post -0.95 EPS 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.