Delta Investment Management LLC Buys 38,042 Shares of AVITA Medical, Inc. (NASDAQ:RCEL)

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

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of AVITA Medical by 38.5% in the third quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company's stock worth $347,000 after purchasing an additional 8,985 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of AVITA Medical in the 4th quarter worth $190,000. AlphaQuest LLC increased its holdings in shares of AVITA Medical by 24.7% in the 4th quarter. AlphaQuest LLC now owns 9,378 shares of the company's stock worth $120,000 after buying an additional 1,858 shares during the last quarter. Essex Investment Management Co. LLC raised its position in shares of AVITA Medical by 13.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company's stock valued at $3,343,000 after buying an additional 30,077 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of AVITA Medical during the 4th quarter worth $135,000. Institutional investors own 27.66% of the company's stock.

AVITA Medical Price Performance

RCEL traded down $0.12 during midday trading on Friday, hitting $6.28. The stock had a trading volume of 179,140 shares, compared to its average volume of 180,195. AVITA Medical, Inc. has a 1 year low of $6.17 and a 1 year high of $14.16. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. The business has a fifty day moving average of $8.47 and a 200 day moving average of $10.00. The company has a market cap of $166.01 million, a P/E ratio of -2.63 and a beta of 1.74.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $18.51 million during the quarter, compared to the consensus estimate of $33.15 million. As a group, equities analysts forecast that AVITA Medical, Inc. will post -0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, D. Boral Capital reissued a "buy" rating and issued a $22.00 target price on shares of AVITA Medical in a research note on Thursday, April 10th.

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.