AVITA MED LTD/S ADR (NASDAQ:RCEL) Short Interest Update

AVITA MED LTD/S ADR (NASDAQ:RCEL) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 121,900 shares, a drop of 37.8% from the August 31st total of 195,900 shares. Based on an average daily volume of 123,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company’s shares are short sold.

In other news, CEO Michael S. Perry sold 9,000 shares of AVITA MED LTD/S stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $27.41, for a total transaction of $246,690.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 31,220 shares of company stock valued at $841,204 over the last quarter.

A number of hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of AVITA MED LTD/S during the 2nd quarter worth approximately $441,000. Advisors Asset Management Inc. bought a new position in AVITA MED LTD/S during the second quarter worth $145,000. Advisor Group Holdings Inc. acquired a new stake in AVITA MED LTD/S in the first quarter worth $55,000. United Capital Financial Advisers LLC bought a new stake in AVITA MED LTD/S in the first quarter valued at $197,000. Finally, Two Sigma Advisers LP acquired a new position in shares of AVITA MED LTD/S during the first quarter valued at about $65,000. Institutional investors and hedge funds own 6.64% of the company’s stock.

Shares of NASDAQ:RCEL traded down $0.15 during midday trading on Thursday, reaching $25.01. The company’s stock had a trading volume of 75,526 shares, compared to its average volume of 105,705. AVITA MED LTD/S has a fifty-two week low of $20.00 and a fifty-two week high of $55.35. The firm has a 50 day moving average price of $25.13 and a two-hundred day moving average price of $14.79. The firm has a market capitalization of $542.25 million, a price-to-earnings ratio of -12.15 and a beta of 1.09.

A number of equities analysts have recently commented on RCEL shares. BofA Securities assumed coverage on shares of AVITA MED LTD/S in a report on Thursday, August 27th. They set a “buy” rating and a $42.00 price target on the stock. BTIG Research upped their price target on AVITA MED LTD/S from $8.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Bank of America initiated coverage on AVITA MED LTD/S in a research note on Thursday, August 27th. They issued a “buy” rating and a $42.00 price target for the company. Zacks Investment Research cut AVITA MED LTD/S from a “hold” rating to a “sell” rating in a report on Tuesday, September 15th. Finally, BidaskClub upgraded shares of AVITA MED LTD/S from a “sell” rating to a “hold” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $34.67.

About AVITA MED LTD/S

Avita Medical Limited operates as a regenerative medicine company in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications. The company's patented and proprietary platform technology provides treatment solutions derived from the regenerative properties of a patient's own skin.

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