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

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $4.19 per share, for a total transaction of $41,900.00. Following the acquisition, the director directly owned 102,761 shares in the company, valued at approximately $430,568.59. This trade represents a 10.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, June 3rd, Joseph Fralin Woody acquired 10,000 shares of Avita Medical stock. The stock was purchased at an average price of $4.09 per share, for a total transaction of $40,900.00.
• On Monday, June 1st, Joseph Fralin Woody acquired 10,000 shares of Avita Medical stock. The stock was purchased at an average price of $4.30 per share, for a total transaction of $43,000.00.

Avita Medical Trading Down 1.0%

RCEL stock opened at $4.12 on Wednesday. The company has a market capitalization of $126.81 million, a PE ratio of -2.62 and a beta of 1.87. Avita Medical Inc. has a 12-month low of $3.22 and a 12-month high of $7.12. The business’s fifty day moving average price is $4.37 and its 200 day moving average price is $4.12.

Avita Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The firm had revenue of $19.25 million during the quarter, compared to analysts’ expectations of $18.30 million. Research analysts predict that Avita Medical Inc. will post -1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Avita Medical

A number of large investors have recently made changes to their positions in RCEL. AQR Capital Management LLC acquired a new stake in shares of Avita Medical in the 1st quarter valued at about $799,000. Jacobs Levy Equity Management Inc. purchased a new stake in Avita Medical during the 1st quarter valued at approximately $374,000. Jane Street Group LLC raised its stake in Avita Medical by 20.4% during the 1st quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock valued at $519,000 after acquiring an additional 10,789 shares during the last quarter. Strs Ohio purchased a new stake in Avita Medical during the 1st quarter valued at approximately $116,000. Finally, Rhumbline Advisers raised its stake in Avita Medical by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock valued at $223,000 after acquiring an additional 3,393 shares during the last quarter. 27.66% of the stock is owned by institutional investors and hedge funds.

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.