Avita Medical (NASDAQ:RCEL) Director Joseph Fralin Woody Purchases 5,200 Shares

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody bought 5,200 shares of the stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $20,800.00. Following the acquisition, the director owned 107,961 shares in the company, valued at $431,844. The trade was a 5.06% increase in their position. The acquisition 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 Tuesday, June 9th, Joseph Fralin Woody purchased 10,000 shares of Avita Medical stock. The shares were acquired at an average price of $4.19 per share, for a total transaction of $41,900.00.
• On Wednesday, June 3rd, Joseph Fralin Woody purchased 10,000 shares of Avita Medical stock. The shares were 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 purchased 10,000 shares of Avita Medical stock. The shares were acquired at an average price of $4.30 per share, for a total transaction of $43,000.00.

Avita Medical Price Performance

NASDAQ RCEL opened at $4.12 on Thursday. The firm has a market cap of $126.80 million, a PE ratio of -2.62 and a beta of 1.87. Avita Medical Inc. has a one year low of $3.22 and a one year high of $7.12. The stock’s 50 day simple moving average is $4.38 and its 200 day simple moving average is $4.12.

Avita Medical (NASDAQ:RCEL) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). The business had revenue of $19.25 million for the quarter, compared to the consensus estimate of $18.30 million. As a group, equities analysts expect that Avita Medical Inc. will post -1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a report on Friday, March 27th. Lake Street Capital raised shares of Avita Medical from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.50 to $6.00 in a report on Friday, May 15th. D. Boral Capital reissued a “buy” rating and set a $10.00 price objective on shares of Avita Medical in a report on Wednesday, April 8th. Northland Securities initiated coverage on Avita Medical in a research report on Thursday, March 5th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen lowered Avita Medical from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new position in Avita Medical during the 1st quarter worth approximately $799,000. Jacobs Levy Equity Management Inc. bought a new position in Avita Medical during the first quarter worth about $374,000. Jane Street Group LLC lifted its holdings in Avita Medical by 20.4% during the first quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock worth $519,000 after acquiring an additional 10,789 shares in the last quarter. Strs Ohio bought a new position in Avita Medical during the first quarter worth about $116,000. Finally, Rhumbline Advisers lifted its holdings in Avita Medical by 8.8% during the second quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock worth $223,000 after acquiring an additional 3,393 shares in the last quarter. Institutional investors own 27.66% of the company’s stock.

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.