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

Barclays PLC raised its position in AVITA Medical, Inc. (NASDAQ:RCEL) by 340.0% during the third quarter, Holdings Channel reports. The firm owned 37,503 shares of the company’s stock after purchasing an additional 28,979 shares during the period. Barclays PLC’s holdings in AVITA Medical were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RCEL. Essex Investment Management Co. LLC acquired a new position in AVITA Medical in the third quarter valued at $2,477,000. Jane Street Group LLC raised its position in shares of AVITA Medical by 32.7% in 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 in the last quarter. State Street Corp raised its position in shares of AVITA Medical by 2.4% in the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after acquiring an additional 11,997 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of AVITA Medical in the 2nd quarter valued at about $86,000. Finally, IHT Wealth Management LLC boosted its position in shares of AVITA Medical by 24.3% during the 3rd 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 in the last quarter. 27.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RCEL shares. D. Boral Capital began coverage on AVITA Medical in a report on Tuesday, December 24th. They issued a “buy” rating and a $25.00 target price for the company. Piper Sandler reiterated a “neutral” rating and issued a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 target price on shares of AVITA Medical in a research report on Tuesday, December 24th.

AVITA Medical Stock Up 3.5 %

RCEL stock opened at $13.24 on Friday. The stock’s 50 day simple moving average is $12.42 and its 200 day simple moving average is $10.49. The company has a market cap of $347.13 million, a P/E ratio of -5.94 and a beta of 1.60. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. 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 issued its earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share 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 for the quarter, compared to analyst estimates of $19.65 million. During the same period in the previous year, the company earned ($0.34) earnings per share. On average, research analysts expect that AVITA Medical, Inc. will post -2.35 earnings per share for the current fiscal year.

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.