Goldman Sachs Group Inc. Has $1.36 Million Stake in Avita Medical Inc. $RCEL

Goldman Sachs Group Inc. reduced its stake in shares of Avita Medical Inc. (NASDAQ:RCEL) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,039 shares of the company’s stock after selling 8,440 shares during the quarter. Goldman Sachs Group Inc. owned 0.63% of Avita Medical worth $1,360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCEL. Northern Trust Corp increased its position in Avita Medical by 5.7% in the fourth 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 during the period. AQR Capital Management LLC bought a new position in shares of Avita Medical during the 1st quarter valued at about $799,000. Wellington Management Group LLP bought a new position in shares of Avita Medical during the 1st quarter valued at about $669,000. Nuveen LLC acquired a new stake in Avita Medical in the 1st quarter valued at approximately $584,000. Finally, Jane Street Group LLC raised its position in Avita Medical by 20.4% in the 1st quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock valued at $519,000 after buying an additional 10,789 shares during the last quarter. 27.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avita Medical

In related news, Director Robert Mcnamara bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were bought at an average price of $4.50 per share, for a total transaction of $45,000.00. Following the completion of the acquisition, the director directly owned 86,771 shares of the company’s stock, valued at $390,469.50. This trade represents a 13.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 24,000 shares of company stock valued at $113,660 in the last 90 days. 2.80% of the stock is owned by company insiders.

Avita Medical Trading Down 1.3%

NASDAQ RCEL opened at $5.47 on Friday. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.58 and a quick ratio of 0.46. Avita Medical Inc. has a one year low of $3.60 and a one year high of $14.16. The business has a 50 day simple moving average of $5.13 and a 200 day simple moving average of $6.62. The stock has a market capitalization of $145.61 million, a P/E ratio of -2.78 and a beta of 1.58.

Avita Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.12). Avita Medical had a negative net margin of 68.87% and a negative return on equity of 632.62%. The firm had revenue of $18.42 million during the quarter, compared to analyst estimates of $34.27 million. Avita Medical has set its FY 2025 guidance at EPS. Research analysts expect that Avita Medical Inc. will post -0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RCEL shares. Lake Street Capital lowered their price target on Avita Medical from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Avita Medical in a report on Monday, September 15th. BTIG Research lowered Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price objective on the stock. in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Avita Medical from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Avita Medical currently has an average rating of “Hold” and an average price target of $11.60.

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.