Bank of New York Mellon Corp Has $576,000 Stock Position in AVITA Medical, Inc. (NASDAQ:RCEL)

Bank of New York Mellon Corp lessened its holdings in AVITA Medical, Inc. (NASDAQ:RCEL) by 32.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,689 shares of the company’s stock after selling 34,919 shares during the period. Bank of New York Mellon Corp’s holdings in AVITA Medical were worth $576,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CenterBook Partners LP bought a new position in AVITA Medical during the fourth quarter valued at about $234,000. Aigen Investment Management LP acquired a new position in shares of AVITA Medical during the 4th quarter valued at about $220,000. Vanguard Group Inc. raised its stake in shares of AVITA Medical by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company’s stock valued at $22,572,000 after acquiring an additional 15,356 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in AVITA Medical in the 1st quarter worth approximately $3,874,000. Finally, 1492 Capital Management LLC boosted its position in AVITA Medical by 16.4% during the fourth quarter. 1492 Capital Management LLC now owns 71,929 shares of the company’s stock worth $987,000 after purchasing an additional 10,147 shares during the period. 27.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a research report on Friday, August 9th.

AVITA Medical Stock Down 2.9 %

RCEL stock opened at $10.56 on Tuesday. The stock has a market capitalization of $272.45 million, a price-to-earnings ratio of -6.00 and a beta of 1.54. The company has a 50-day moving average of $9.46 and a two-hundred day moving average of $10.15. AVITA Medical, Inc. has a 52-week low of $7.51 and a 52-week high of $18.93. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.29 and a quick ratio of 4.81.

AVITA Medical (NASDAQ:RCEL) last announced its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.01). The business had revenue of $15.20 million for the quarter, compared to the consensus estimate of $15.04 million. AVITA Medical had a negative net margin of 92.04% and a negative return on equity of 118.27%. During the same quarter in the previous year, the company earned ($0.41) EPS. As a group, equities research analysts anticipate that AVITA Medical, Inc. will post -2.16 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.