AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara Purchases 10,000 Shares

AVITA Medical, Inc. (NASDAQ:RCEL) Director Robert Mcnamara purchased 10,000 shares of AVITA Medical stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $10.09 per share, with a total value of $100,900.00. Following the completion of the acquisition, the director now directly owns 45,749 shares in the company, valued at approximately $461,607.41. This trade represents a 27.97 % 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 hyperlink.

AVITA Medical Price Performance

NASDAQ RCEL traded down $0.27 during mid-day trading on Thursday, hitting $9.95. The stock had a trading volume of 245,444 shares, compared to its average volume of 237,083. AVITA Medical, Inc. has a 52-week low of $7.51 and a 52-week high of $18.93. The company has a market cap of $260.87 million, a price-to-earnings ratio of -4.16 and a beta of 1.55. The company has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $10.62. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share 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 analysts’ expectations of $18.40 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. Equities analysts forecast that AVITA Medical, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a report on Tuesday, December 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital dropped their price objective on AVITA Medical from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Lake Street Capital dropped their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Hedge Funds Weigh In On AVITA Medical

Hedge funds have recently bought and sold shares of the stock. Huntington National Bank purchased a new position in AVITA Medical during the third quarter worth $32,000. BNP Paribas Financial Markets purchased a new position in AVITA Medical during the fourth quarter worth $38,000. FMR LLC increased its position in AVITA Medical by 126.9% during the third quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after buying an additional 2,376 shares in the last quarter. Quest Partners LLC increased its position in AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after buying an additional 5,484 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in AVITA Medical by 48.0% during the fourth quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock worth $92,000 after buying an additional 2,324 shares in the last quarter. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.