Wellington Management Group LLP Makes New Investment in Avita Medical Inc. $RCEL

Wellington Management Group LLP acquired a new stake in Avita Medical Inc. (NASDAQ:RCEL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 82,206 shares of the company's stock, valued at approximately $669,000. Wellington Management Group LLP owned about 0.31% of Avita Medical at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RCEL. Wells Fargo & Company MN raised its holdings in shares of Avita Medical by 41.2% during the 4th quarter. Wells Fargo & Company MN now owns 13,941 shares of the company's stock worth $178,000 after buying an additional 4,070 shares in the last quarter. Barclays PLC raised its holdings in shares of Avita Medical by 9.4% during the 4th quarter. Barclays PLC now owns 41,029 shares of the company's stock worth $525,000 after buying an additional 3,526 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Avita Medical by 5.7% during the 4th quarter. Northern Trust Corp now owns 228,720 shares of the company's stock worth $2,928,000 after buying an additional 12,253 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Avita Medical by 7.4% in the 4th quarter. Ameriprise Financial Inc. now owns 47,593 shares of the company's stock worth $609,000 after purchasing an additional 3,269 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Avita Medical in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 27.66% of the company's stock.

Avita Medical Stock Down 1.6%

Shares of RCEL stock traded down $0.07 during trading hours on Friday, reaching $4.22. The company had a trading volume of 200,237 shares, compared to its average volume of 277,920. Avita Medical Inc. has a 12 month low of $3.60 and a 12 month 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 business has a fifty day simple moving average of $5.23 and a 200-day simple moving average of $6.97. The company has a market cap of $112.34 million, a price-to-earnings ratio of -2.14 and a beta of 1.58.

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

Insider Buying and Selling

In other Avita Medical news, Director Robert Mcnamara purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were acquired at an average cost of $4.50 per share, for a total transaction of $45,000.00. Following the completion of the acquisition, the director owned 86,771 shares of the company's stock, valued at $390,469.50. The trade was a 13.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 24,000 shares of company stock worth $113,660 in the last 90 days. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RCEL. Lake Street Capital lowered their target price on Avita Medical from $14.00 to $8.00 and set a "buy" rating for the company in a report on Monday, August 11th. BTIG Research lowered shares of Avita Medical from a "neutral" rating to a "sell" rating and set a $3.00 price objective on the stock. in a report on Friday, August 8th. Wall Street Zen cut Avita Medical from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, D. Boral Capital reduced their price objective on Avita Medical from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.60.

About Avita Medical

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.