Avita Medical (NASDAQ:RCEL) Issues Earnings Results
by Doug Wharley · The Cerbat GemAvita Medical (NASDAQ:RCEL – Get Free Report) issued its earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.03), Zacks reports. Avita Medical had a negative net margin of 67.07% and a negative return on equity of 632.62%. The business had revenue of $17.06 million during the quarter, compared to the consensus estimate of $29.39 million. Avita Medical updated its FY 2025 guidance to EPS.
Avita Medical Stock Up 10.9%
RCEL traded up $0.37 during trading on Friday, hitting $3.77. The company had a trading volume of 260,082 shares, compared to its average volume of 263,836. The company has a market capitalization of $100.36 million, a PE ratio of -2.08 and a beta of 1.58. Avita Medical has a one year low of $3.35 and a one year high of $14.16. The firm’s 50-day moving average price is $4.72 and its 200 day moving average price is $5.65.
Insider Transactions at Avita Medical
In other news, Director Robert Mcnamara bought 10,000 shares of the stock in a transaction on Thursday, August 28th. The stock was purchased at an average price of $4.50 per share, for a total transaction of $45,000.00. Following the acquisition, the director owned 86,771 shares in the company, valued at approximately $390,469.50. This trade represents a 13.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders bought 24,000 shares of company stock worth $113,660. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Avita Medical by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock worth $223,000 after purchasing an additional 3,393 shares in the last quarter. Jane Street Group LLC increased its holdings in Avita Medical by 20.4% during the first quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock worth $519,000 after buying an additional 10,789 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Avita Medical during the second quarter worth $58,000. Strs Ohio bought a new stake in Avita Medical during the first quarter worth $116,000. Finally, Curi Capital LLC acquired a new stake in Avita Medical in the second quarter valued at $100,000. 27.66% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
RCEL has been the topic of several analyst reports. Wall Street Zen lowered shares of Avita Medical from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Lake Street Capital lowered Avita Medical from a “buy” rating to a “hold” rating and cut their target price for the company from $8.00 to $4.00 in a research note on Friday, October 17th. D. Boral Capital restated a “buy” rating and set a $14.00 target price on shares of Avita Medical in a report on Friday. Zacks Research cut Avita Medical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, BTIG Research downgraded shares of Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price target on the stock. in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Avita Medical has an average rating of “Reduce” and an average price target of $10.80.
View Our Latest Research Report on RCEL
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.
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