AVITA Medical, Inc. (NASDAQ:RCEL) Short Interest Update

AVITA Medical, Inc. (NASDAQ:RCEL - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 3,680,000 shares, a growth 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 trading volume, of 231,200 shares, the short-interest ratio is currently 15.9 days.

Institutional Trading of AVITA Medical

Several hedge funds and other institutional investors have recently bought and sold shares of RCEL. Vanguard Group Inc. boosted its holdings in shares of AVITA Medical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company's stock valued at $18,220,000 after acquiring an additional 5,767 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AVITA Medical by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 597,595 shares of the company's stock valued at $7,650,000 after buying an additional 3,159 shares during the period. Essex Investment Management Co. LLC lifted its stake 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. Northern Trust Corp lifted its holdings in shares of AVITA Medical by 5.7% in the fourth 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. Finally, AQR Capital Management LLC bought a new position in AVITA Medical in the 1st quarter worth about $799,000. Institutional investors and hedge funds own 27.66% of the company's stock.

Analysts Set New Price Targets

Separately, D. Boral Capital restated 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 Stock Performance

NASDAQ RCEL traded up $0.07 during midday trading on Wednesday, hitting $5.93. The company had a trading volume of 455,809 shares, compared to its average volume of 181,711. The stock has a market cap of $156.76 million, a price-to-earnings ratio of -2.48 and a beta of 1.74. AVITA Medical has a fifty-two week low of $5.46 and a fifty-two week high of $14.16. The firm has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $9.68. 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 announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share 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 business had revenue of $18.51 million during the quarter, compared to analyst estimates of $33.15 million. Equities analysts forecast that AVITA Medical will post -0.95 earnings per share for the current fiscal 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.