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

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $4.19 per share, for a total transaction of $41,900.00. Following the purchase, the director directly owned 102,761 shares of the company’s stock, valued at approximately $430,568.59. This trade represents a 10.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 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 stock was acquired at an average price of $4.30 per share, for a total transaction of $43,000.00.

Avita Medical Stock Down 1.0%

Shares of NASDAQ:RCEL traded down $0.04 during midday trading on Tuesday, reaching $4.12. The company’s stock had a trading volume of 201,298 shares, compared to its average volume of 236,220. The firm 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 twelve month low of $3.22 and a twelve month high of $7.12. The stock has a fifty day moving average of $4.36 and a 200 day moving average of $4.12.

Avita Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.35). The business had revenue of $19.25 million during the quarter, compared to analyst estimates of $18.30 million. Sell-side analysts anticipate that Avita Medical Inc. will post -1.29 earnings per share for the current fiscal year.

Institutional Trading of Avita Medical

Several institutional investors have recently modified their holdings of RCEL. Geode Capital Management LLC grew its position in shares of Avita Medical by 44.6% in the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock valued at $1,654,000 after purchasing an additional 147,722 shares during the period. Divisadero Street Capital Management LP purchased a new position in shares of Avita Medical in the third quarter worth about $511,000. AQR Capital Management LLC purchased a new position in shares of Avita Medical in the first quarter worth about $799,000. NewEdge Advisors LLC lifted its stake in shares of Avita Medical by 8,588.5% in the first quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock worth $321,000 after buying an additional 85,885 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake 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. Institutional investors and hedge funds own 27.66% of the company’s stock.

Analyst Ratings Changes

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