AVITA Medical, Inc. (NASDAQ:RCEL) Shares Purchased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC increased its stake in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,171 shares of the company’s stock after acquiring an additional 30,077 shares during the period. Essex Investment Management Co. LLC owned about 1.00% of AVITA Medical worth $3,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank acquired a new stake in AVITA Medical during the third quarter worth about $32,000. FMR LLC boosted 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 purchasing an additional 2,376 shares in the last quarter. Quest Partners LLC boosted 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 purchasing an additional 5,484 shares in the last quarter. AlphaQuest LLC boosted its position in AVITA Medical by 24.7% during the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock worth $120,000 after purchasing an additional 1,858 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in AVITA Medical during the fourth quarter worth approximately $190,000. 27.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AVITA Medical

In related news, Director Robert Mcnamara purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the acquisition, the director now owns 45,749 shares in the company, valued at $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 SEC, which is available through this link. Over the last 90 days, insiders purchased 11,486 shares of company stock valued at $117,541. 1.82% of the stock is currently owned by insiders.

AVITA Medical Stock Performance

NASDAQ RCEL opened at $8.30 on Friday. The company has a market cap of $217.61 million, a PE ratio of -3.47 and a beta of 1.57. The stock’s 50 day simple moving average is $9.70 and its 200-day simple moving average is $10.64. AVITA Medical, Inc. has a 1-year low of $7.51 and a 1-year high of $17.67. 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 (NASDAQ:RCEL) last released its 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 firm had revenue of $18.41 million during the quarter, compared to analysts’ expectations of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. As a group, equities research analysts anticipate that AVITA Medical, Inc. will post -0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on RCEL. D. Boral Capital lowered their price target on AVITA Medical from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a research report on Tuesday, December 24th. Finally, Lake Street Capital lowered their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

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.