Vanguard Group Inc. Boosts Stock Holdings in AVITA Medical, Inc. (NASDAQ:RCEL)

Vanguard Group Inc. boosted its position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,360,696 shares of the company’s stock after buying an additional 11,062 shares during the period. Vanguard Group Inc. owned about 0.05% of AVITA Medical worth $19,880,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in AVITA Medical by 56.9% during the 2nd quarter. Royal Bank of Canada now owns 1,709 shares of the company’s stock worth $30,000 after buying an additional 620 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of AVITA Medical in the second quarter valued at approximately $35,000. AQR Capital Management LLC purchased a new stake in shares of AVITA Medical in the second quarter valued at approximately $48,000. Bank of America Corp DE grew its position in shares of AVITA Medical by 40.8% in the fourth quarter. Bank of America Corp DE now owns 8,067 shares of the company’s stock valued at $53,000 after purchasing an additional 2,336 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of AVITA Medical in the first quarter valued at approximately $60,000. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

AVITA Medical Trading Down 4.5 %

RCEL opened at $9.88 on Monday. AVITA Medical, Inc. has a one year low of $9.16 and a one year high of $21.70. The stock has a market capitalization of $254.01 million, a PE ratio of -7.06 and a beta of 1.33. The business’s 50 day moving average price is $16.39 and its 200 day moving average price is $13.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.46 and a current ratio of 7.88.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. AVITA Medical had a negative return on equity of 54.80% and a negative net margin of 70.56%. The firm had revenue of $14.20 million for the quarter, compared to analysts’ expectations of $14.10 million. As a group, equities research analysts expect that AVITA Medical, Inc. will post -1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RCEL shares. BTIG Research lowered AVITA Medical from a “buy” rating to a “neutral” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $21.00 price target (up from $19.00) on shares of AVITA Medical in a research report on Friday, February 23rd. Finally, Cantor Fitzgerald upped their price target on AVITA Medical from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, AVITA Medical has a consensus rating of “Moderate Buy” and an average target price of $27.80.

About AVITA Medical

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.