AVITA Medical, Inc. (NASDAQ:RCEL) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,593 shares of the company’s stock after acquiring an additional 3,269 shares during the period. Ameriprise Financial Inc. owned 0.18% of AVITA Medical worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RCEL. SG Americas Securities LLC acquired a new position in shares of AVITA Medical during the 4th quarter worth approximately $190,000. AlphaQuest LLC boosted its stake in AVITA Medical by 24.7% during the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock worth $120,000 after buying an additional 1,858 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in AVITA Medical by 13.0% during the fourth quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock worth $3,343,000 after buying an additional 30,077 shares during the last quarter. Intech Investment Management LLC purchased a new stake in AVITA Medical in the 4th quarter valued at $135,000. Finally, Vanguard Group Inc. raised its holdings in shares of 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 period. Institutional investors and hedge funds own 27.66% of the company’s stock.

AVITA Medical Trading Down 3.0%

Shares of AVITA Medical stock opened at $5.86 on Wednesday. The stock has a 50 day moving average of $8.01 and a 200 day moving average of $9.68. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. The firm has a market capitalization of $154.91 million, a price-to-earnings ratio of -2.45 and a beta of 1.74. AVITA Medical, Inc. has a fifty-two week low of $5.46 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.14). The business had revenue of $18.51 million for the quarter, compared to analysts’ expectations of $33.15 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 year.

Analyst Upgrades and Downgrades

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

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.