David O’toole Acquires 3,000 Shares of Avita Medical (NASDAQ:RCEL) Stock

Avita Medical Inc. (NASDAQ:RCEL) CFO David O’toole purchased 3,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were bought at an average price of $4.15 per share, for a total transaction of $12,450.00. Following the completion of the transaction, the chief financial officer directly owned 140,127 shares in the company, valued at $581,527.05. This represents a 2.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avita Medical Price Performance

Avita Medical stock opened at $5.39 on Wednesday. The firm has a 50 day simple moving average of $3.89 and a 200-day simple moving average of $4.26. The stock has a market capitalization of $165.10 million, a PE ratio of -3.08 and a beta of 1.78. Avita Medical Inc. has a 12-month low of $3.22 and a 12-month high of $10.29.

Institutional Investors Weigh In On Avita Medical

Several large investors have recently modified their holdings of RCEL. Deutsche Bank AG raised its position in shares of Avita Medical by 1,351.5% during the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock worth $27,000 after purchasing an additional 7,352 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Avita Medical by 122.2% in the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock valued at $28,000 after purchasing an additional 4,425 shares during the period. Farther Finance Advisors LLC purchased a new position in Avita Medical in the 3rd quarter worth about $32,000. Aristides Capital LLC acquired a new stake in Avita Medical during the 4th quarter worth about $48,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Avita Medical during the second quarter valued at about $58,000. 27.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RCEL. Lake Street Capital lifted their price target on Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a research report on Friday, January 16th. BTIG Research raised Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a report on Monday, December 29th. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Avita Medical in a research report on Tuesday, February 17th. Finally, Zacks Research raised shares of Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.50.

About Avita Medical

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.