Price T Rowe Associates Inc. MD Sells 9,796 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

Price T Rowe Associates Inc. MD decreased its holdings in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 49.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,004 shares of the company’s stock after selling 9,796 shares during the period. Price T Rowe Associates Inc. MD’s holdings in AVITA Medical were worth $129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in AVITA Medical by 340.0% during the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after buying an additional 28,979 shares during the last quarter. JPMorgan Chase & Co. grew its position in AVITA Medical by 38.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock worth $347,000 after acquiring an additional 8,985 shares during the last quarter. Russell Investments Group Ltd. grew its position in AVITA Medical by 48.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock worth $92,000 after acquiring an additional 2,324 shares during the last quarter. Vanguard Group Inc. grew its position in AVITA Medical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company’s stock worth $18,220,000 after acquiring an additional 5,767 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in AVITA Medical by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 597,595 shares of the company’s stock worth $7,650,000 after acquiring an additional 3,159 shares during the last quarter. Institutional investors own 27.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, D. Boral Capital restated a “buy” rating and set a $22.00 price target on shares of AVITA Medical in a research report on Thursday, April 10th.

Insiders Place Their Bets

In other AVITA Medical news, Director Robert Mcnamara purchased 10,000 shares of the 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 transaction, the director now directly owns 45,749 shares in the company, valued at $461,607.41. This represents a 27.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.82% of the company’s stock.

AVITA Medical Stock Performance

RCEL stock opened at $6.46 on Friday. The business’s 50-day moving average price is $8.70 and its two-hundred day moving average price is $10.15. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. The firm has a market cap of $170.77 million, a PE ratio of -2.70 and a beta of 1.74. AVITA Medical, Inc. has a 1-year low of $6.17 and a 1-year high of $14.16.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.14). AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. The firm had revenue of $18.51 million during the quarter, compared to analyst estimates of $33.15 million. As a group, research analysts forecast that AVITA Medical, Inc. will post -0.95 earnings per share for the current year.

AVITA Medical Profile

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.