6,476 Shares in Avita Medical Inc. (NASDAQ:RCEL) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in shares of Avita Medical Inc. (NASDAQ:RCEL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,476 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Avita Medical in the 4th quarter valued at $38,000. CWM LLC raised its position in Avita Medical by 1,099.5% in the 1st quarter. CWM LLC now owns 4,918 shares of the company’s stock valued at $40,000 after purchasing an additional 4,508 shares during the last quarter. GAMMA Investing LLC raised its position in Avita Medical by 688.9% in the 1st quarter. GAMMA Investing LLC now owns 6,374 shares of the company’s stock valued at $52,000 after purchasing an additional 5,566 shares during the last quarter. Russell Investments Group Ltd. raised its position in Avita Medical by 48.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock valued at $92,000 after purchasing an additional 2,324 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Avita Medical by 16.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,181 shares of the company’s stock valued at $148,000 after purchasing an additional 2,564 shares during the last quarter. Institutional investors own 27.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reiterated a “buy” rating and issued a $19.00 price objective on shares of Avita Medical in a research report on Friday, June 6th.

Avita Medical Stock Down 6.8%

NASDAQ RCEL opened at $5.36 on Thursday. The stock has a fifty day moving average of $5.63 and a 200-day moving average of $7.72. The stock has a market capitalization of $141.66 million, a P/E ratio of -2.45 and a beta of 1.52. Avita Medical Inc. has a 52 week low of $4.71 and a 52 week high of $14.16. The company has a debt-to-equity ratio of 9.39, a quick ratio of 1.72 and a current ratio of 2.09.

Avita Medical (NASDAQ:RCEL) last released its earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.14). The firm had revenue of $18.51 million during the quarter, compared to analyst estimates of $33.15 million. Avita Medical had a negative net margin of 79.61% and a negative return on equity of 632.62%. On average, equities research analysts forecast that Avita Medical Inc. will post -0.95 EPS 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.