AVITA Medical, Inc. (NASDAQ:RCEL) General Counsel Sells $66,417.12 in Stock

AVITA Medical, Inc. (NASDAQ:RCEL) General Counsel Donna Shiroma sold 4,193 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.84, for a total value of $66,417.12. Following the completion of the transaction, the general counsel now owns 42,257 shares in the company, valued at $669,350.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

AVITA Medical Price Performance

RCEL stock opened at $15.84 on Monday. The stock has a market capitalization of $403.57 million, a P/E ratio of -13.09 and a beta of 1.49. AVITA Medical, Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $21.70. The business has a 50-day moving average of $17.52 and a 200-day moving average of $15.41.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). AVITA Medical had a negative return on equity of 38.31% and a negative net margin of 74.77%. The firm had revenue of $11.75 million for the quarter, compared to analyst estimates of $11.20 million. Equities analysts expect that AVITA Medical, Inc. will post -1.5 EPS for the current year.

Institutional Investors Weigh In On AVITA Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCEL. Globeflex Capital L P grew its holdings in shares of AVITA Medical by 183.0% in the 1st quarter. Globeflex Capital L P now owns 118,862 shares of the company’s stock valued at $1,661,000 after acquiring an additional 76,856 shares in the last quarter. Bank of New York Mellon Corp grew its stake in AVITA Medical by 105.0% in the second quarter. Bank of New York Mellon Corp now owns 116,201 shares of the company’s stock valued at $1,977,000 after purchasing an additional 59,505 shares in the last quarter. American International Group Inc. acquired a new position in shares of AVITA Medical during the 2nd quarter worth approximately $206,000. Strs Ohio bought a new stake in shares of AVITA Medical during the 2nd quarter worth approximately $612,000. Finally, Segantii Capital Management Ltd acquired a new stake in shares of AVITA Medical in the 2nd quarter valued at approximately $510,000. 29.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on RCEL. Lake Street Capital boosted their price objective on shares of AVITA Medical from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Piper Sandler upped their price objective on shares of AVITA Medical from $18.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. BTIG Research lifted their target price on AVITA Medical from $19.00 to $26.00 in a report on Tuesday, June 20th. Bank of America increased their price target on AVITA Medical from $18.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $26.00 price objective on shares of AVITA Medical in a research report on Tuesday, August 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $28.40.

About AVITA Medical

AVITA Medical, Inc operates as a regenerative medicine company in the United States, Australia, Japan, and the United Kingdom. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications, including vitiligo.