Nuveen LLC Makes New Investment in Avita Medical Inc. $RCEL

Key Points

• Nuveen LLC has acquired a stake of 71,738 shares in Avita Medical Inc. (NASDAQ:RCEL), valued at approximately $584,000.
• Analysts have lowered price targets for Avita Medical, with BTIG Research downgrading the stock to a "sell" rating and setting a target price of $3.00.
• Insider Director Robert Mcnamara purchased 10,000 shares at $4.50 each, increasing his ownership in the company by 13.03%.

Nuveen LLC purchased a new position in shares of Avita Medical Inc. (NASDAQ:RCEL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 71,738 shares of the company's stock, valued at approximately $584,000. Nuveen LLC owned 0.27% of Avita Medical as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Evernest Financial Advisors LLC acquired a new position in Avita Medical during the first quarter worth about $411,000. Delta Investment Management LLC raised its holdings in shares of Avita Medical by 263.7% during the fourth quarter. Delta Investment Management LLC now owns 52,470 shares of the company's stock valued at $672,000 after acquiring an additional 38,042 shares during the period. Millennium Management LLC acquired a new position in shares of Avita Medical during the 4th quarter worth $426,000. Northern Trust Corp boosted its holdings in Avita Medical by 5.7% in the 4th quarter. Northern Trust Corp now owns 228,720 shares of the company's stock valued at $2,928,000 after purchasing an additional 12,253 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Avita Medical by 78.9% in the fourth quarter. Deutsche Bank AG now owns 22,821 shares of the company's stock worth $292,000 after acquiring an additional 10,063 shares during the last quarter. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

Avita Medical Trading Down 1.8%

Shares of Avita Medical stock traded down $0.08 during trading on Monday, hitting $4.19. 188,218 shares of the company were exchanged, compared to its average volume of 277,732. Avita Medical Inc. has a 1-year low of $3.60 and a 1-year high of $14.16. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.58 and a quick ratio of 0.46. The firm's fifty day moving average price is $5.20 and its 200 day moving average price is $6.88. The firm has a market capitalization of $111.40 million, a P/E ratio of -2.11 and a beta of 1.58.

Avita Medical (NASDAQ:RCEL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.12). Avita Medical had a negative return on equity of 632.62% and a negative net margin of 68.87%.The firm had revenue of $18.42 million for the quarter, compared to the consensus estimate of $34.27 million. Avita Medical has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Avita Medical Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Avita Medical

In other Avita Medical news, Director Robert Mcnamara purchased 10,000 shares of the stock in a transaction on Thursday, August 28th. The shares were purchased at an average price of $4.50 per share, with a total value of $45,000.00. Following the acquisition, the director directly owned 86,771 shares in the company, valued at approximately $390,469.50. The trade was a 13.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 24,000 shares of company stock valued at $113,660. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

RCEL has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Avita Medical from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. BTIG Research downgraded shares of Avita Medical from a "neutral" rating to a "sell" rating and set a $3.00 target price on the stock. in a research report on Friday, August 8th. D. Boral Capital reduced their price target on shares of Avita Medical from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Lake Street Capital decreased their price objective on shares of Avita Medical from $14.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.60.

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.