AlphaQuest LLC Buys 1,858 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

AlphaQuest LLC lifted its stake in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 24.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,378 shares of the company’s stock after acquiring an additional 1,858 shares during the quarter. AlphaQuest LLC’s holdings in AVITA Medical were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of AVITA Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after acquiring an additional 8,361 shares during the last quarter. State Street Corp lifted its holdings in shares of AVITA Medical by 2.4% during the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after acquiring an additional 11,997 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of AVITA Medical by 32.7% during the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after acquiring an additional 22,032 shares during the last quarter. Barclays PLC lifted its stake in AVITA Medical by 340.0% in the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after purchasing an additional 28,979 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in AVITA Medical by 38.5% in the third quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock worth $347,000 after purchasing an additional 8,985 shares during the last quarter. 27.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robert Mcnamara purchased 10,000 shares of AVITA Medical stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $10.09 per share, for a total transaction of $100,900.00. Following the completion of the transaction, the director now directly owns 45,749 shares of the company’s stock, valued at $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.82% of the company’s stock.

AVITA Medical Stock Performance

Shares of NASDAQ:RCEL opened at $9.25 on Wednesday. The company has a market cap of $242.52 million, a price-to-earnings ratio of -3.87 and a beta of 1.57. The company has a 50-day moving average price of $9.07 and a 200-day moving average price of $10.63. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. AVITA Medical, Inc. has a 12 month low of $7.51 and a 12 month high of $16.65.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) 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 the consensus estimate of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. As a group, equities analysts anticipate that AVITA Medical, Inc. will post -0.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCEL. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a research note on Tuesday, December 24th. Lake Street Capital lowered their price target on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, D. Boral Capital reissued a “buy” rating and issued a $22.00 price target on shares of AVITA Medical in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, AVITA Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

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.