State Street Corp Grows Stock Position in AVITA Medical, Inc. (NASDAQ:RCEL)

State Street Corp boosted its position in AVITA Medical, Inc. (NASDAQ:RCEL) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,997 shares of the company’s stock after buying an additional 11,997 shares during the quarter. State Street Corp owned 1.98% of AVITA Medical worth $5,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in AVITA Medical in the third quarter valued at $32,000. FMR LLC lifted its holdings in AVITA Medical by 126.9% in the third quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after acquiring an additional 2,376 shares during the last quarter. Quest Partners LLC boosted its stake in AVITA Medical by 269.4% in the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after acquiring an additional 5,484 shares during the period. The Manufacturers Life Insurance Company acquired a new position in AVITA Medical in the second quarter valued at approximately $86,000. Finally, IHT Wealth Management LLC grew its holdings in shares of AVITA Medical by 24.3% during the third quarter. IHT Wealth Management LLC now owns 28,100 shares of the company’s stock valued at $301,000 after purchasing an additional 5,500 shares during the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RCEL has been the topic of a number of analyst reports. D. Boral Capital initiated coverage on shares of AVITA Medical in a report on Tuesday, December 24th. They issued a “buy” rating and a $25.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 target price on shares of AVITA Medical in a report on Tuesday, December 24th. Finally, Piper Sandler reiterated a “neutral” rating and set a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th.

AVITA Medical Trading Up 2.4 %

NASDAQ:RCEL opened at $13.49 on Friday. The company has a debt-to-equity ratio of 3.48, a current ratio of 3.73 and a quick ratio of 3.37. The stock has a market cap of $353.68 million, a PE ratio of -6.05 and a beta of 1.60. The stock’s 50-day moving average is $12.16 and its two-hundred day moving average is $10.35. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The firm had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. As a group, equities research analysts forecast that AVITA Medical, Inc. will post -2.35 earnings per share for the current fiscal year.

AVITA Medical Company 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.