Avita Medical (NASDAQ:RCEL) Director Joseph Fralin Woody Purchases 10,000 Shares

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average cost of $4.09 per share, with a total value of $40,900.00. Following the completion of the purchase, the director directly owned 92,761 shares of the company’s stock, valued at $379,392.49. This represents a 12.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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 shares were bought at an average cost of $4.30 per share, with a total value of $43,000.00.

Avita Medical Stock Performance

RCEL opened at $4.18 on Friday. The stock has a market capitalization of $128.66 million, a price-to-earnings ratio of -2.66 and a beta of 1.87. The company has a fifty day moving average of $4.36 and a 200 day moving average of $4.12. Avita Medical Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.12.

Avita Medical (NASDAQ:RCEL) last posted its earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35). The company had revenue of $19.25 million for the quarter, compared to analysts’ expectations of $18.30 million. On average, equities research analysts forecast that Avita Medical Inc. will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Avita Medical

Several institutional investors have recently bought and sold shares of RCEL. Geode Capital Management LLC lifted its position in Avita Medical by 44.6% during 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 last quarter. Divisadero Street Capital Management LP bought a new position in Avita Medical during the third quarter valued at $511,000. AQR Capital Management LLC bought a new position in Avita Medical during the first quarter valued at $799,000. NewEdge Advisors LLC lifted its position in Avita Medical by 8,588.5% during the first quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock valued at $321,000 after purchasing an additional 85,885 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in Avita Medical by 213.8% during the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock valued at $603,000 after purchasing an additional 80,404 shares during the last quarter. Institutional investors own 27.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RCEL. Northland Securities began coverage on shares of Avita Medical in a research note on Thursday, March 5th. They set an “outperform” rating and a $10.00 target price for the company. Lake Street Capital raised shares of Avita Medical from a “hold” rating to a “buy” rating and raised their target price for the company from $3.50 to $6.00 in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research note on Friday, March 27th. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of Avita Medical in a research note on Wednesday, April 8th. 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.