Avita Medical (NASDAQ:RCEL) CFO Acquires $12,450.00 in Stock

Avita Medical Inc. (NASDAQ:RCEL) CFO David O’toole purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were bought at an average price of $4.15 per share, for a total transaction of $12,450.00. Following the completion of the purchase, the chief financial officer directly owned 140,127 shares in the company, valued at $581,527.05. This represents a 2.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Avita Medical Stock Performance

NASDAQ RCEL traded up $0.06 during trading hours on Monday, hitting $4.85. The company had a trading volume of 315,518 shares, compared to its average volume of 227,430. The business has a 50 day moving average of $3.82 and a 200-day moving average of $4.25. The company has a market cap of $148.56 million, a PE ratio of -2.77 and a beta of 1.78. Avita Medical Inc. has a 1-year low of $3.22 and a 1-year high of $10.29.

Wall Street Analysts Forecast Growth

RCEL has been the topic of a number of research reports. D. Boral Capital restated a “buy” rating and set a $10.00 price target on shares of Avita Medical in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research note on Monday, December 29th. Lake Street Capital raised their price objective on shares of Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Finally, Zacks Research upgraded shares of Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.50.

Institutional Investors Weigh In On Avita Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jain Global LLC purchased a new stake in shares of Avita Medical in the fourth quarter valued at $83,000. Russell Investments Group Ltd. raised its stake in Avita Medical by 122.2% in 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 last quarter. Wells Fargo & Company MN lifted its holdings in Avita Medical by 98.5% in the 4th quarter. Wells Fargo & Company MN now owns 18,832 shares of the company’s stock valued at $65,000 after purchasing an additional 9,345 shares in the last quarter. Aristides Capital LLC purchased a new position in Avita Medical in the 4th quarter valued at about $48,000. Finally, Deutsche Bank AG boosted its stake in shares of Avita Medical by 1,351.5% during the 4th quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock worth $27,000 after purchasing an additional 7,352 shares during the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.