Joseph Fralin Woody Buys 10,000 Shares of Avita Medical (NASDAQ:RCEL) Stock

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody acquired 10,000 shares of Avita Medical stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $4.30 per share, with a total value of $43,000.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $43,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Avita Medical Stock Up 4.8%

Shares of NASDAQ:RCEL opened at $4.36 on Friday. Avita Medical Inc. has a 12-month low of $3.22 and a 12-month high of $7.12. The stock has a market cap of $134.19 million, a PE ratio of -2.78 and a beta of 1.87. The business has a 50 day moving average of $4.35 and a 200-day moving average of $4.12.

Avita Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.35). The firm had revenue of $19.25 million for the quarter, compared to the consensus estimate of $18.30 million. Equities research analysts expect that Avita Medical Inc. will post -1.29 earnings per share for the current year.

Institutional Investors Weigh In On Avita Medical

Several institutional investors have recently made changes to their positions in RCEL. AQR Capital Management LLC bought a new stake in shares of Avita Medical in the first quarter valued at approximately $799,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Avita Medical in the first quarter valued at approximately $374,000. Jane Street Group LLC raised its position in Avita Medical by 20.4% during the first quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock valued at $519,000 after purchasing an additional 10,789 shares in the last quarter. Strs Ohio acquired a new position in Avita Medical during the first quarter valued at approximately $116,000. Finally, Rhumbline Advisers raised its position in Avita Medical by 8.8% during the second quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock valued at $223,000 after purchasing an additional 3,393 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

About Avita Medical

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.