Delta Investment Management LLC Increases Holdings in AVITA Medical, Inc. (NASDAQ:RCEL)

Delta Investment Management LLC raised its position in AVITA Medical, Inc. (NASDAQ:RCEL - Free Report) by 263.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,470 shares of the company's stock after acquiring an additional 38,042 shares during the quarter. Delta Investment Management LLC owned 0.20% of AVITA Medical worth $672,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of AVITA Medical in the 4th quarter valued at approximately $38,000. Russell Investments Group Ltd. increased its position in shares of AVITA Medical by 48.0% during the fourth quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company's stock worth $92,000 after acquiring an additional 2,324 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of AVITA Medical by 24.7% in the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company's stock valued at $120,000 after purchasing an additional 1,858 shares in the last quarter. Intech Investment Management LLC bought a new position in AVITA Medical during the fourth quarter worth about $135,000. Finally, Wells Fargo & Company MN raised its stake in AVITA Medical by 41.2% in the fourth quarter. Wells Fargo & Company MN now owns 13,941 shares of the company's stock valued at $178,000 after purchasing an additional 4,070 shares in the last quarter. Institutional investors own 27.66% of the company's stock.

Insider Buying and Selling at AVITA Medical

In related news, Director Robert Mcnamara acquired 10,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $10.09 per share, with a total value of $100,900.00. Following the transaction, the director now owns 45,749 shares of the company's stock, valued at approximately $461,607.41. This trade represents a 27.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reaffirmed a "buy" rating and set a $22.00 price objective on shares of AVITA Medical in a research report on Thursday, April 10th.

AVITA Medical Trading Up 4.3%

NASDAQ:RCEL opened at $6.74 on Tuesday. The stock has a market capitalization of $178.17 million, a price-to-earnings ratio of -2.82 and a beta of 1.74. AVITA Medical, Inc. has a 52 week low of $6.17 and a 52 week high of $14.16. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. The firm has a 50 day moving average of $8.66 and a 200 day moving average of $10.13.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.14). AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. The firm had revenue of $18.51 million during the quarter, compared to analyst estimates of $33.15 million. As a group, sell-side analysts anticipate that AVITA Medical, Inc. will post -0.95 earnings per share for the current fiscal year.

AVITA Medical 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.

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