Insider Buying: AVITA Medical, Inc. (NASDAQ:RCEL) CFO Buys $12,880.00 in Stock

AVITA Medical, Inc. (NASDAQ:RCEL) CFO David D. O’toole acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $12,880.00. Following the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $128,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

AVITA Medical Price Performance

AVITA Medical stock opened at $12.60 on Friday. The stock has a market cap of $321.93 million, a P/E ratio of -9.47 and a beta of 1.54. AVITA Medical, Inc. has a 1 year low of $6.29 and a 1 year high of $21.70. The firm’s 50 day moving average price is $12.00 and its 200-day moving average price is $14.69.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RCEL shares. Cantor Fitzgerald restated an “overweight” rating and set a $26.00 target price on shares of AVITA Medical in a research note on Thursday, October 19th. Piper Sandler decreased their target price on shares of AVITA Medical from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 10th. Finally, Bank of America raised their target price on shares of AVITA Medical from $18.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $27.60.

Institutional Investors Weigh In On AVITA Medical

Several institutional investors and hedge funds have recently modified their holdings of RCEL. Royal Bank of Canada raised its position in shares of AVITA Medical by 56.9% during the second quarter. Royal Bank of Canada now owns 1,709 shares of the company’s stock valued at $30,000 after buying an additional 620 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of AVITA Medical during the second quarter valued at approximately $35,000. AQR Capital Management LLC bought a new stake in shares of AVITA Medical during the second quarter valued at approximately $48,000. Bank of America Corp DE raised its position in shares of AVITA Medical by 40.8% during the fourth quarter. Bank of America Corp DE now owns 8,067 shares of the company’s stock valued at $53,000 after buying an additional 2,336 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of AVITA Medical during the first quarter valued at approximately $60,000. Institutional investors own 29.88% of the company’s stock.

About AVITA Medical

AVITA Medical, Inc operates as a regenerative medicine company in the United States, Australia, Japan, and the United Kingdom. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications, including vitiligo.