AVITA Medical, Inc. (NASDAQ:RCEL) Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in AVITA Medical, Inc. (NASDAQ:RCEL) by 32.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,689 shares of the company’s stock after selling 34,919 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of AVITA Medical worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RCEL. Silvercrest Asset Management Group LLC purchased a new stake in AVITA Medical during the first quarter valued at about $3,874,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of AVITA Medical in the 1st quarter valued at approximately $673,000. CenterBook Partners LP acquired a new position in AVITA Medical in the 4th quarter worth approximately $234,000. Aigen Investment Management LP purchased a new position in AVITA Medical during the 4th quarter worth approximately $220,000. Finally, Vanguard Group Inc. raised its stake in AVITA Medical by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company’s stock valued at $22,572,000 after purchasing an additional 15,356 shares during the period. Hedge funds and other institutional investors own 27.66% of the company’s stock.

AVITA Medical Price Performance

Shares of RCEL opened at $10.56 on Tuesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.29 and a quick ratio of 4.81. The company has a market capitalization of $272.45 million, a price-to-earnings ratio of -6.00 and a beta of 1.54. The business’s 50-day moving average is $9.46 and its 200-day moving average is $10.15. AVITA Medical, Inc. has a fifty-two week low of $7.51 and a fifty-two week high of $18.93.

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

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 target price on shares of AVITA Medical in a research report 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.