Key Points
- Avita Medical director Joseph Fralin Woody bought 10,000 shares on June 1 at an average price of $4.30, totaling about $43,000. After the purchase, he directly owned 10,000 shares.
- The company recently reported Q1 earnings of -$0.35 per share, matching analyst expectations, while revenue of $19.25 million came in above the $18.30 million forecast.
- Analyst views remain mixed: Avita Medical has a consensus Hold rating with a $7.25 average price target, though some firms still rate it Buy or Outperform while others have issued Sell ratings.
Avita Medical Inc. (NASDAQ:RCEL - Get Free Report) Director Joseph Fralin Woody purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $4.30 per share, with a total value of $43,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $43,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Avita Medical Price Performance
RCEL stock opened at $4.16 on Thursday. The business has a fifty day moving average price of $4.34 and a 200 day moving average price of $4.11. Avita Medical Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.12. The stock has a market capitalization of $128.04 million, a price-to-earnings ratio of -2.65 and a beta of 1.87.
Avita Medical (NASDAQ:RCEL - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.35). The business had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.30 million. On average, equities analysts expect that Avita Medical Inc. will post -1.29 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on RCEL. D. Boral Capital reaffirmed a "buy" rating and set a $10.00 price target on shares of Avita Medical in a report on Wednesday, April 8th. Wall Street Zen cut Avita Medical from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. 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. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Avita Medical in a report on Friday, March 27th. Finally, Lake Street Capital raised Avita Medical from a "hold" rating to a "buy" rating and upped their price objective for the stock from $3.50 to $6.00 in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Avita Medical presently has a consensus rating of "Hold" and a consensus target price of $7.25.
Get Our Latest Analysis on Avita Medical
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in Avita Medical by 8,588.5% during the 1st 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. Bank of America Corp DE lifted its holdings in Avita Medical by 145.3% during the 1st quarter. Bank of America Corp DE now owns 62,128 shares of the company's stock worth $230,000 after buying an additional 36,799 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Avita Medical during the 1st quarter worth $83,000. R Squared Ltd acquired a new position in Avita Medical during the 1st quarter worth $57,000. Finally, Abel Hall LLC bought a new stake in shares of Avita Medical during the 1st quarter valued at $62,000. Institutional investors and hedge funds own 27.66% of the company's stock.
Avita Medical Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
