Vanguard Group Inc. Acquires 5,767 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

Vanguard Group Inc. lifted its stake in AVITA Medical, Inc. (NASDAQ:RCEL) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,423,439 shares of the company’s stock after purchasing an additional 5,767 shares during the quarter. Vanguard Group Inc. owned approximately 0.05% of AVITA Medical worth $18,220,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC boosted its holdings in AVITA Medical by 24.7% in the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock worth $120,000 after acquiring an additional 1,858 shares in the last quarter. FMR LLC raised its position in shares of AVITA Medical by 126.9% in the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after purchasing an additional 2,376 shares during the last quarter. Geode Capital Management LLC boosted its stake in AVITA Medical by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after purchasing an additional 8,361 shares in 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 valued at $347,000 after purchasing an additional 8,985 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in AVITA Medical during the 4th quarter valued at about $135,000. 27.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AVITA Medical news, Director Robert Mcnamara acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost 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 in the company, valued at $461,607.41. This represents a 27.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RCEL. D. Boral Capital reaffirmed a “buy” rating and issued a $22.00 price objective on shares of AVITA Medical in a research report on Thursday, April 10th. Lake Street Capital dropped their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price on shares of AVITA Medical in a research report on Tuesday, December 24th.

AVITA Medical Stock Performance

Shares of NASDAQ RCEL opened at $9.02 on Thursday. The company has a market cap of $236.49 million, a P/E ratio of -3.77 and a beta of 1.60. AVITA Medical, Inc. has a 52-week low of $6.90 and a 52-week high of $14.16. 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’s fifty day moving average is $8.88 and its two-hundred day moving average is $10.41.

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

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.