Rhumbline Advisers Grows Stock Holdings in AVITA Medical, Inc. (NASDAQ:RCEL)

Rhumbline Advisers lifted its position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,530 shares of the company’s stock after purchasing an additional 4,463 shares during the period. Rhumbline Advisers owned about 0.14% of AVITA Medical worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in AVITA Medical during the 1st quarter worth $224,000. CenterBook Partners LP acquired a new stake in AVITA Medical during the 4th quarter worth $234,000. Hussman Strategic Advisors Inc. acquired a new stake in AVITA Medical during the 1st quarter worth $673,000. Silvercrest Asset Management Group LLC acquired a new stake in AVITA Medical during the 1st quarter worth $3,874,000. 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 worth $22,572,000 after acquiring an additional 15,356 shares in the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

AVITA Medical Price Performance

Shares of NASDAQ:RCEL opened at $10.74 on Friday. 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 firm has a market capitalization of $277.09 million, a P/E ratio of -6.10 and a beta of 1.54. AVITA Medical, Inc. has a 12 month low of $7.51 and a 12 month high of $18.93. The company’s fifty day moving average price is $9.50 and its 200 day moving average price is $10.07.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). The business had revenue of $15.20 million during the quarter, compared to analyst estimates of $15.04 million. AVITA Medical had a negative net margin of 92.04% and a negative return on equity of 118.27%. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, sell-side analysts predict that AVITA Medical, Inc. will post -2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a research note on Friday, August 9th.

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.