Millennium Management LLC Makes New $426,000 Investment in AVITA Medical, Inc. (NASDAQ:RCEL)

Millennium Management LLC bought a new position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,299 shares of the company’s stock, valued at approximately $426,000. Millennium Management LLC owned approximately 0.13% of AVITA Medical as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position 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 purchasing an additional 5,767 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 3,159 shares in the last quarter. Essex Investment Management Co. LLC grew its position in shares of AVITA Medical by 13.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock worth $3,343,000 after purchasing an additional 30,077 shares in the last quarter. Northern Trust Corp grew its position in shares of AVITA Medical by 5.7% during the 4th quarter. Northern Trust Corp now owns 228,720 shares of the company’s stock worth $2,928,000 after purchasing an additional 12,253 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of AVITA Medical by 63.0% during the 4th 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. Institutional investors and hedge funds own 27.66% of the company’s stock.

AVITA Medical Stock Performance

NASDAQ RCEL opened at $6.11 on Tuesday. 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 capitalization of $161.52 million, a price-to-earnings ratio of -2.56 and a beta of 1.55. The firm’s 50 day simple moving average is $7.83 and its 200 day simple moving average is $9.47. AVITA Medical, Inc. has a 1 year low of $5.46 and a 1 year high of $14.16.

AVITA Medical (NASDAQ:RCEL) last posted 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). The firm had revenue of $18.51 million for the quarter, compared to analyst estimates 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 expect that AVITA Medical, Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, D. Boral Capital reiterated a “buy” rating and set a $19.00 price target on shares of AVITA Medical in a research report on Friday.

AVITA Medical Company 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.