AQR Capital Management LLC Sells 67,535 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

AQR Capital Management LLC cut its position in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 74.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,065 shares of the company’s stock after selling 67,535 shares during the period. AQR Capital Management LLC owned about 0.09% of AVITA Medical worth $183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in AVITA Medical in the 1st quarter valued at $224,000. Rhumbline Advisers boosted its stake in AVITA Medical by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after buying an additional 4,463 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in AVITA Medical in the 1st quarter valued at $673,000. Silvercrest Asset Management Group LLC acquired a new stake in AVITA Medical in the 1st quarter valued at $3,874,000. Finally, Vanguard Group Inc. boosted its stake in AVITA Medical by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company’s stock valued at $22,572,000 after buying an additional 15,356 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors.

AVITA Medical Price Performance

AVITA Medical stock opened at $10.63 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.81 and a current ratio of 5.29. The firm has a market cap of $274.25 million, a P/E ratio of -6.04 and a beta of 1.54. The business’s fifty day moving average is $9.87 and its two-hundred day moving average is $9.48. AVITA Medical, Inc. has a 52 week low of $7.51 and a 52 week high of $18.93.

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 return on equity of 118.27% and a negative net margin of 92.04%. During the same period in the prior year, the firm posted ($0.41) EPS. Equities research analysts forecast that AVITA Medical, Inc. will post -2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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