Avita Medical (NASDAQ:RCEL) Director Buys $20,800.00 in Stock

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody acquired 5,200 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $4.00 per share, for a total transaction of $20,800.00. Following the acquisition, the director directly owned 107,961 shares of the company’s stock, valued at approximately $431,844. The trade was a 5.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 9th, Joseph Fralin Woody acquired 10,000 shares of Avita Medical stock. The shares were acquired at an average price of $4.19 per share, for a total transaction of $41,900.00.
• On Wednesday, June 3rd, Joseph Fralin Woody acquired 10,000 shares of Avita Medical stock. The shares were acquired 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 shares were acquired at an average price of $4.30 per share, for a total transaction of $43,000.00.

Avita Medical Stock Down 1.5%

RCEL stock opened at $3.91 on Friday. Avita Medical Inc. has a 52-week low of $3.22 and a 52-week high of $7.12. The stock’s fifty day simple moving average is $4.39 and its 200-day simple moving average is $4.12. The stock has a market capitalization of $120.35 million, a price-to-earnings ratio of -2.49 and a beta of 1.87.

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, hitting the consensus estimate of ($0.35). The business had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.30 million. As a group, analysts anticipate that Avita Medical Inc. will post -1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Northland Securities assumed coverage on Avita Medical in a report on Thursday, March 5th. They set an “outperform” rating and a $10.00 price objective on the stock. D. Boral Capital restated a “buy” rating and set a $10.00 price objective on shares of Avita Medical in a report on Wednesday, April 8th. Lake Street Capital upgraded Avita Medical from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.50 to $6.00 in a report on Friday, May 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a report on Friday, March 27th. Finally, Wall Street Zen cut 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Avita Medical by 8.8% in the second 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. Russell Investments Group Ltd. boosted its holdings in Avita Medical by 122.2% in the fourth quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock valued at $28,000 after acquiring an additional 4,425 shares during the last quarter. Deutsche Bank AG boosted its holdings in Avita Medical by 1,351.5% in the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after acquiring an additional 7,352 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Avita Medical by 98.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,832 shares of the company’s stock valued at $65,000 after acquiring an additional 9,345 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Avita Medical by 20.4% during the first quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock worth $519,000 after purchasing an additional 10,789 shares in the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.