Joseph Fralin Woody Buys 10,000 Shares of Avita Medical (NASDAQ:RCEL) Stock

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody bought 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average cost of $4.09 per share, with a total value of $40,900.00. Following the completion of the transaction, the director owned 92,761 shares in the company, valued at approximately $379,392.49. This trade represents a 12.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Joseph Fralin Woody also recently made the following trade(s):

• On Monday, June 1st, Joseph Fralin Woody bought 10,000 shares of Avita Medical stock. The stock was bought at an average cost of $4.30 per share, with a total value of $43,000.00.

Avita Medical Trading Down 4.1%

NASDAQ:RCEL opened at $4.18 on Friday. The company has a 50-day moving average price of $4.36 and a 200-day moving average price of $4.12. The stock has a market cap of $128.66 million, a price-to-earnings ratio of -2.66 and a beta of 1.87. Avita Medical Inc. has a 12 month low of $3.22 and a 12 month high of $7.12.

Avita Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). The business had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.30 million. Equities analysts forecast that Avita Medical Inc. will post -1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on RCEL. Northland Securities assumed coverage on shares of Avita Medical in a research note on Thursday, March 5th. They set an “outperform” rating and a $10.00 price objective for the company. Wall Street Zen downgraded shares of Avita Medical from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. D. Boral Capital reissued a “buy” rating and issued a $10.00 price objective on shares of Avita Medical in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a report on Friday, March 27th. Finally, Lake Street Capital raised shares of Avita Medical from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.50 to $6.00 in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Avita Medical currently has an average rating of “Hold” and an average price target of $7.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RCEL. Deutsche Bank AG increased its position in Avita Medical by 1,351.5% during the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after acquiring an additional 7,352 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Avita Medical by 122.2% in the fourth quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock worth $28,000 after acquiring an additional 4,425 shares during the period. Aristides Capital LLC purchased a new stake in Avita Medical in the fourth quarter worth about $48,000. R Squared Ltd purchased a new stake in Avita Medical in the first quarter worth about $57,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Avita Medical in the second quarter worth about $58,000. Institutional investors own 27.66% of the company’s stock.

Avita Medical Company Profile

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.