JPMorgan Chase & Co. Has $347,000 Stock Holdings in AVITA Medical, Inc. (NASDAQ:RCEL)

JPMorgan Chase & Co. grew its stake in shares of AVITA Medical, Inc. (NASDAQ:RCEL) by 38.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,344 shares of the company’s stock after acquiring an additional 8,985 shares during the period. JPMorgan Chase & Co.’s holdings in AVITA Medical were worth $347,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Barclays PLC increased its position in AVITA Medical by 340.0% during the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after acquiring an additional 28,979 shares during the period. Geode Capital Management LLC boosted its stake in shares of AVITA Medical by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock valued at $6,373,000 after purchasing an additional 8,361 shares in the last quarter. Jane Street Group LLC grew its position in AVITA Medical by 32.7% during the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after acquiring an additional 22,032 shares during the last quarter. State Street Corp increased its stake in shares of AVITA Medical by 2.4% in the third quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after buying an additional 11,997 shares during the period. Finally, IHT Wealth Management LLC raised its stake 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 acquiring an additional 5,500 shares during the last quarter. Institutional investors own 27.66% of the company’s stock.

AVITA Medical Stock Down 1.4 %

Shares of NASDAQ:RCEL opened at $9.40 on Thursday. The stock’s 50-day moving average price is $11.61 and its 200-day moving average price is $10.67. AVITA Medical, Inc. has a 12-month low of $7.51 and a 12-month high of $18.93. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48. The stock has a market capitalization of $246.45 million, a P/E ratio of -4.22 and a beta of 1.58.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. The firm had revenue of $19.55 million during the quarter, compared to the consensus estimate of $19.65 million. During the same quarter last year, the company posted ($0.34) EPS. On average, equities analysts anticipate that AVITA Medical, Inc. will post -2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.