Key Points
- Avita Medical director Joseph Fralin Woody bought 10,000 shares on June 3 at an average price of $4.09, spending $40,900 and increasing his holdings by 12.08% to 92,761 shares.
- The purchase came after Woody also bought 10,000 shares on June 1 at $4.30, signaling continued insider buying in the stock.
- Avita Medical recently reported quarterly EPS of -$0.35 in line with estimates and revenue of $19.25 million above expectations, while analysts currently rate the stock a consensus Hold with a $7.25 price target.
Avita Medical Inc. (NASDAQ:RCEL - Get Free Report) Director Joseph Fralin Woody bought 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $4.09 per share, with a total value of $40,900.00. Following the acquisition, the director directly owned 92,761 shares in the company, valued at approximately $379,392.49. The trade was a 12.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Joseph Fralin Woody also recently made the following trade(s):
- On Monday, June 1st, Joseph Fralin Woody bought 10,000 shares of Avita Medical stock. The stock was purchased at an average price of $4.30 per share, with a total value of $43,000.00.
Avita Medical Trading Down 4.1%
Avita Medical stock opened at $4.18 on Friday. The firm has a 50-day moving average price of $4.36 and a 200-day moving average price of $4.12. The firm has a market capitalization of $128.66 million, a PE ratio of -2.66 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.
Avita Medical (NASDAQ:RCEL - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.30 million. As a group, sell-side analysts predict that Avita Medical Inc. will post -1.29 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on RCEL. Weiss Ratings restated a "sell (e+)" rating on shares of Avita Medical in a report on Friday, March 27th. D. Boral Capital reiterated 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 shares of Avita Medical from a "hold" rating to a "buy" rating and lifted their price objective for the company from $3.50 to $6.00 in a report on Friday, May 15th. Northland Securities started coverage on shares of Avita Medical in a report on Thursday, March 5th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Wall Street Zen lowered shares of Avita Medical from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. 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 company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.25.
Get Our Latest Stock Report on Avita Medical
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG increased its position in Avita Medical by 1,351.5% during the 4th quarter. Deutsche Bank AG now owns 7,896 shares of the company's stock valued at $27,000 after purchasing an additional 7,352 shares during the period. Russell Investments Group Ltd. increased its position in Avita Medical by 122.2% during the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company's stock valued at $28,000 after purchasing an additional 4,425 shares during the period. Aristides Capital LLC purchased a new position in Avita Medical during the 4th quarter valued at about $48,000. R Squared Ltd purchased a new position in Avita Medical during the 1st quarter valued at about $57,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Avita Medical during the 2nd quarter valued at about $58,000. Hedge funds and other institutional investors own 27.66% of the company's stock.
About Avita Medical
(
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.
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