JPMorgan Chase & Co. Increases Stock Position in AVITA Medical, Inc. (NASDAQ:RCEL)

JPMorgan Chase & Co. increased its position in AVITA Medical, Inc. (NASDAQ:RCEL) by 63.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,706 shares of the company’s stock after buying an additional 20,362 shares during the quarter. JPMorgan Chase & Co.’s holdings in AVITA Medical were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 stake in AVITA Medical by 1.4% during the third quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after buying an additional 8,361 shares during the period. Essex Investment Management Co. LLC increased its position in shares of AVITA Medical by 13.0% in the fourth quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock worth $3,343,000 after acquiring an additional 30,077 shares in the last quarter. Jane Street Group LLC raised its stake in shares of AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after acquiring an additional 22,032 shares during the period. Finally, Barclays PLC lifted its holdings in shares of AVITA Medical by 340.0% during the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after acquiring an additional 28,979 shares in the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

AVITA Medical Stock Performance

Shares of RCEL opened at $10.00 on Wednesday. AVITA Medical, Inc. has a 52-week low of $6.90 and a 52-week high of $14.16. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. The firm has a market cap of $264.35 million, a price-to-earnings ratio of -4.18 and a beta of 1.60. The business’s 50 day moving average is $8.89 and its two-hundred day moving average is $10.36.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. D. Boral Capital restated a “buy” rating and set a $22.00 price objective on shares of AVITA Medical in a research note on Thursday, April 10th. Lake Street Capital decreased their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 8th.

Insider Buying and Selling

In other news, Director Robert Mcnamara purchased 10,000 shares of AVITA Medical stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the acquisition, the director now owns 45,749 shares in the company, valued at $461,607.41. The trade was a 27.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.82% of the company’s stock.

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.