30,426 Shares in Avita Medical Inc. $RCEL Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new stake in shares of Avita Medical Inc. (NASDAQ:RCEL) in the first quarter, Holdings Channel reports. The firm bought 30,426 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors also recently modified their holdings of RCEL. Northern Trust Corp boosted its stake 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 valued at $2,928,000 after buying an additional 12,253 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Avita Medical by 7.4% during the 4th quarter. Ameriprise Financial Inc. now owns 47,593 shares of the company’s stock valued at $609,000 after buying an additional 3,269 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Avita Medical during the 4th quarter valued at $38,000. Bank of America Corp DE boosted its stake in shares of Avita Medical by 16.2% during the 4th quarter. Bank of America Corp DE now owns 38,121 shares of the company’s stock valued at $488,000 after buying an additional 5,324 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Avita Medical by 78.9% during the 4th quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock valued at $292,000 after buying an additional 10,063 shares during the period. Institutional investors and hedge funds own 27.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Avita Medical from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. BTIG Research lowered shares of Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price objective for the company. in a research note on Friday, August 8th. Lake Street Capital reduced their price objective on shares of Avita Medical from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Finally, D. Boral Capital reduced their price objective on shares of Avita Medical from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.60.

Avita Medical Stock Up 5.0%

RCEL stock opened at $4.38 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.46 and a debt-to-equity ratio of 9.39. Avita Medical Inc. has a 1 year low of $3.60 and a 1 year high of $14.16. The company has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $6.77. The firm has a market cap of $116.60 million, a PE ratio of -2.22 and a beta of 1.58.

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

Insiders Place Their Bets

In other news, Director Robert Mcnamara bought 10,000 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was purchased at an average price of $4.50 per share, with a total value of $45,000.00. Following the transaction, the director directly owned 86,771 shares in the company, valued at approximately $390,469.50. The trade was a 13.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have acquired 24,000 shares of company stock worth $113,660. 2.80% of the stock is owned by insiders.

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.