AVITA Medical, Inc. (NASDAQ:RCEL) Short Interest Up 23.9% in May

AVITA Medical, Inc. (NASDAQ:RCEL - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 3,680,000 shares, an increase of 23.9% from the April 30th total of 2,970,000 shares. Currently, 14.9% of the company's stock are short sold. Based on an average daily volume of 231,200 shares, the days-to-cover ratio is presently 15.9 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RCEL. Vanguard Group Inc. lifted its position in AVITA Medical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company's stock valued at $18,220,000 after purchasing an additional 5,767 shares during the period. Geode Capital Management LLC lifted its position in AVITA Medical by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 597,595 shares of the company's stock valued at $7,650,000 after purchasing an additional 3,159 shares during the period. Essex Investment Management Co. LLC lifted its position in AVITA Medical by 13.0% during the fourth quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company's stock valued at $3,343,000 after purchasing an additional 30,077 shares during the period. Northern Trust Corp lifted its position in AVITA Medical by 5.7% during the fourth 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, AQR Capital Management LLC bought a new position in AVITA Medical during the first quarter valued at approximately $799,000. Institutional investors own 27.66% of the company's stock.

Analyst Ratings Changes

Separately, D. Boral Capital restated a "buy" rating and issued a $19.00 price objective on shares of AVITA Medical in a report on Friday.

AVITA Medical Stock Up 6.3%

Shares of NASDAQ RCEL traded up $0.36 during midday trading on Friday, hitting $6.11. The stock had a trading volume of 274,309 shares, compared to its average volume of 181,991. The business's 50 day moving average is $7.87 and its 200-day moving average is $9.57. The company has a market cap of $161.52 million, a P/E ratio of -2.56 and a beta of 1.74. AVITA Medical has a 52 week low of $5.46 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.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last issued 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). The firm had revenue of $18.51 million during the quarter, compared to the consensus estimate of $33.15 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. As a group, analysts predict that AVITA Medical will post -0.95 EPS for the current year.

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.