Dimensional Fund Advisors LP Sells 22,804 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

Dimensional Fund Advisors LP lowered its position in AVITA Medical, Inc. (NASDAQ:RCEL) by 50.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,730 shares of the company’s stock after selling 22,804 shares during the period. Dimensional Fund Advisors LP’s holdings in AVITA Medical were worth $180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of RCEL. EntryPoint Capital LLC purchased a new position in shares of AVITA Medical during the first quarter worth approximately $224,000. Rhumbline Advisers increased its holdings in AVITA Medical by 13.9% during the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after buying an additional 4,463 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in AVITA Medical in the first quarter worth $673,000. Silvercrest Asset Management Group LLC purchased a new position in AVITA Medical in the first quarter worth $3,874,000. Finally, Vanguard Group Inc. grew its holdings in AVITA Medical by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company’s stock worth $22,572,000 after purchasing an additional 15,356 shares during the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

AVITA Medical Stock Up 1.0 %

RCEL stock opened at $10.41 on Tuesday. The stock has a market capitalization of $268.58 million, a P/E ratio of -5.91 and a beta of 1.54. The firm has a 50-day simple moving average of $9.70 and a 200-day simple moving average of $9.54. The company has a quick ratio of 4.81, a current ratio of 5.29 and a debt-to-equity ratio of 1.71. AVITA Medical, Inc. has a 52 week low of $7.51 and a 52 week high of $18.93.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.01). AVITA Medical had a negative net margin of 92.04% and a negative return on equity of 118.27%. The business had revenue of $15.20 million for the quarter, compared to analysts’ expectations of $15.04 million. During the same period in the prior year, the company posted ($0.41) EPS. Equities analysts forecast that AVITA Medical, Inc. will post -2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a research note on Friday, August 9th.

About AVITA Medical

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.