Barclays PLC Acquires 28,979 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

Barclays PLC lifted its holdings in AVITA Medical, Inc. (NASDAQ:RCEL) by 340.0% in the 3rd quarter, Holdings Channel reports. The firm owned 37,503 shares of the company’s stock after buying an additional 28,979 shares during the quarter. Barclays PLC’s holdings in AVITA Medical were worth $402,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RCEL. Huntington National Bank bought a new position in AVITA Medical during the third quarter valued at about $32,000. FMR LLC raised its stake in shares of AVITA Medical by 126.9% in the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock valued at $46,000 after acquiring an additional 2,376 shares in the last quarter. Quest Partners LLC raised its stake in shares of AVITA Medical by 269.4% in the 3rd 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 in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in AVITA Medical in the 2nd quarter worth approximately $86,000. Finally, Rhumbline Advisers boosted its position in AVITA Medical by 13.9% during the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock worth $289,000 after purchasing an additional 4,463 shares during the period. 27.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RCEL has been the subject of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of AVITA Medical in a report on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a report on Tuesday, December 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. Finally, Lake Street Capital cut their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, AVITA Medical presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

AVITA Medical Price Performance

Shares of AVITA Medical stock opened at $8.65 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 company has a market cap of $226.80 million, a PE ratio of -3.88 and a beta of 1.58. The firm has a fifty day moving average price of $12.18 and a two-hundred day moving average price of $10.64. 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, November 7th. The company reported ($0.62) earnings per share 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 company had revenue of $19.55 million during the quarter, compared to the consensus estimate of $19.65 million. During the same quarter in the previous year, the business posted ($0.34) EPS. Analysts expect that AVITA Medical, Inc. will post -2.35 EPS for the current year.

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.