Avita Medical (NASDAQ:RCEL) Director Joseph Fralin Woody Acquires 10,000 Shares

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody bought 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $4.09 per share, for a total transaction of $40,900.00. Following the completion of the acquisition, the director directly owned 92,761 shares in the company, valued at approximately $379,392.49. This trade represents a 12.08% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Joseph Fralin Woody also recently made the following trade(s):

• On Monday, June 1st, Joseph Fralin Woody bought 10,000 shares of Avita Medical stock. The shares were bought at an average price of $4.30 per share, for a total transaction of $43,000.00.

Avita Medical Stock Performance

RCEL stock traded down $0.18 during mid-day trading on Friday, hitting $4.18. 297,655 shares of the company were exchanged, compared to its average volume of 237,243. The firm has a market cap of $128.65 million, a P/E ratio of -2.66 and a beta of 1.87. The firm’s 50 day simple moving average is $4.35 and its 200 day simple moving average is $4.12. Avita Medical Inc. has a 1-year low of $3.22 and a 1-year high of $7.12.

Avita Medical (NASDAQ:RCEL) last announced its earnings results on Thursday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.30 million. On average, equities research analysts predict that Avita Medical Inc. will post -1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Avita Medical

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Avita Medical by 44.6% during the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock worth $1,654,000 after purchasing an additional 147,722 shares during the period. Bridgeway Capital Management LLC boosted its position in Avita Medical by 213.8% during the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after purchasing an additional 80,404 shares during the period. Divisadero Street Capital Management LP bought a new position in Avita Medical during the third quarter worth $511,000. AQR Capital Management LLC bought a new position in Avita Medical during the first quarter worth $799,000. Finally, NewEdge Advisors LLC boosted its position in Avita Medical by 8,588.5% during the first quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock worth $321,000 after purchasing an additional 85,885 shares during the period. 27.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCEL has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a report on Friday, March 27th. Lake Street Capital upgraded shares of Avita Medical from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.50 to $6.00 in a report on Friday, May 15th. D. Boral Capital restated a “buy” rating and set a $10.00 target price on shares of Avita Medical in a report on Wednesday, April 8th. Northland Securities began coverage on shares of Avita Medical in a report on Thursday, March 5th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Avita Medical from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.25.

Avita Medical Company Profile

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.