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

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole bought 975 shares of AVITA Medical stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $12.46 per share, with a total value of $12,148.50. Following the completion of the transaction, the chief financial officer now owns 23,734 shares of the company’s stock, valued at $295,725.64. This trade represents a 4.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AVITA Medical Trading Up 5.1 %

Shares of RCEL opened at $13.08 on Friday. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48. The stock has a market cap of $342.96 million, a PE ratio of -5.87 and a beta of 1.60. AVITA Medical, Inc. has a 1 year low of $7.51 and a 1 year high of $18.93. The stock has a 50 day simple moving average of $11.52 and a 200-day simple moving average of $9.96.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.21). AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. The company had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. During the same quarter in the prior year, the company earned ($0.34) earnings per share. On average, sell-side analysts predict that AVITA Medical, Inc. will post -2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th.

Hedge Funds Weigh In On AVITA Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in AVITA Medical in the 3rd quarter valued at about $32,000. FMR LLC grew its stake in shares of AVITA Medical by 126.9% during the third quarter. FMR LLC now owns 4,248 shares of the company’s stock valued at $46,000 after purchasing an additional 2,376 shares during the last quarter. Quest Partners LLC increased its holdings in shares of AVITA Medical by 269.4% in the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after purchasing an additional 5,484 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in AVITA Medical in the 2nd quarter worth approximately $86,000. Finally, Rhumbline Advisers lifted its holdings in AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock worth $289,000 after buying an additional 4,463 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors and hedge funds.

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.