Geode Capital Management LLC Raises Stock Position in AVITA Medical, Inc. (NASDAQ:RCEL)

Geode Capital Management LLC boosted its stake in AVITA Medical, Inc. (NASDAQ:RCEL) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 597,595 shares of the company’s stock after purchasing an additional 3,159 shares during the period. Geode Capital Management LLC owned approximately 2.28% of AVITA Medical worth $7,650,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AVITA Medical by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company’s stock valued at $18,220,000 after buying an additional 5,767 shares in the last quarter. State Street Corp boosted its holdings in AVITA Medical by 2.4% in the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after acquiring an additional 11,997 shares during the period. Essex Investment Management Co. LLC grew its position in AVITA Medical by 13.0% in the fourth quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock valued at $3,343,000 after acquiring an additional 30,077 shares in the last quarter. Jane Street Group LLC raised its stake in shares of AVITA Medical by 32.7% during the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after purchasing an additional 22,032 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of AVITA Medical by 63.0% during the fourth quarter. JPMorgan Chase & Co. now owns 52,706 shares of the company’s stock worth $675,000 after purchasing an additional 20,362 shares in the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

AVITA Medical Trading Up 1.5 %

NASDAQ RCEL opened at $9.89 on Friday. The company has a market capitalization of $261.44 million, a price-to-earnings ratio of -4.14 and a beta of 1.60. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47. AVITA Medical, Inc. has a 12 month low of $6.90 and a 12 month high of $14.16. The company’s fifty day moving average price is $8.89 and its two-hundred day moving average price is $10.35.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14). The company had revenue of $18.41 million for the quarter, compared to the consensus estimate of $18.40 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. As a group, research analysts predict that AVITA Medical, Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RCEL shares. D. Boral Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of AVITA Medical in a report on Thursday, April 10th. Lake Street Capital lowered their target price on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th.

Insiders Place Their Bets

In other AVITA Medical news, Director Robert Mcnamara bought 10,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the acquisition, the director now directly owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. The trade was a 27.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.82% of the stock is currently owned by corporate insiders.

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.