AVITA Medical, Inc. (NASDAQ:RCEL) Short Interest Update

AVITA Medical, Inc. (NASDAQ:RCEL) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,180,000 shares, a growth of 62.5% from the March 31st total of 726,200 shares. Based on an average daily trading volume, of 228,300 shares, the short-interest ratio is currently 5.2 days. Approximately 5.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research firms have recently commented on RCEL. BTIG Research lowered shares of AVITA Medical from a “buy” rating to a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler reiterated an “overweight” rating and set a $21.00 price objective (up from $19.00) on shares of AVITA Medical in a research report on Friday, February 23rd. Finally, Cantor Fitzgerald raised their target price on AVITA Medical from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.80.

AVITA Medical Stock Performance

Shares of NASDAQ:RCEL traded up $0.22 during trading on Friday, reaching $8.52. The company had a trading volume of 285,980 shares, compared to its average volume of 339,236. AVITA Medical has a twelve month low of $8.01 and a twelve month high of $21.70. The company has a current ratio of 7.88, a quick ratio of 7.46 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average is $14.71 and its 200 day moving average is $13.60.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. AVITA Medical had a negative return on equity of 54.80% and a negative net margin of 70.56%. The firm had revenue of $14.20 million during the quarter, compared to analyst estimates of $14.10 million. Research analysts forecast that AVITA Medical will post -1.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RCEL. HighMark Wealth Management LLC purchased a new stake in shares of AVITA Medical during the fourth quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of AVITA Medical during the third quarter worth approximately $98,000. Tower Research Capital LLC TRC grew its position in AVITA Medical by 1,240.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,345 shares of the company’s stock valued at $101,000 after purchasing an additional 6,797 shares in the last quarter. Aigen Investment Management LP acquired a new position in AVITA Medical in the 4th quarter valued at approximately $220,000. Finally, CenterBook Partners LP purchased a new stake in AVITA Medical in the 4th quarter worth approximately $234,000. 27.66% of the stock is owned by institutional investors and hedge funds.

AVITA Medical Company 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.