Fmr LLC Increases Position in AVITA Medical, Inc. (NASDAQ:RCEL)

Fmr LLC grew its holdings in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 126.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,248 shares of the company’s stock after acquiring an additional 2,376 shares during the period. Fmr LLC’s holdings in AVITA Medical were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Huntington National Bank purchased a new stake in AVITA Medical during the third quarter valued at $32,000. Rhumbline Advisers grew its stake in shares of AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after purchasing an additional 4,463 shares during the period. Quest Partners LLC increased its position in shares of AVITA Medical by 269.4% during the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after purchasing an additional 5,484 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of AVITA Medical during the 2nd quarter valued at about $86,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of AVITA Medical in the 3rd quarter worth approximately $2,477,000. 27.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. D. Boral Capital assumed coverage on AVITA Medical in a research note on Tuesday. They issued a “buy” rating and a $25.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price target (up previously from $9.00) on shares of AVITA Medical in a report on Friday, November 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research note on Tuesday.

AVITA Medical Trading Up 9.9 %

Shares of NASDAQ:RCEL opened at $12.91 on Thursday. The company has a market capitalization of $338.47 million, a PE ratio of -5.79 and a beta of 1.60. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48. AVITA Medical, Inc. has a 12-month low of $7.51 and a 12-month high of $18.93. The business’s fifty day simple moving average is $12.05 and its 200-day simple moving average is $10.29.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The company had revenue of $19.55 million during the quarter, compared to analysts’ expectations of $19.65 million. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. During the same period in the prior year, the business posted ($0.34) EPS. As a group, equities research analysts predict that AVITA Medical, Inc. will post -2.35 earnings per share for the current fiscal 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.