The Potential Rise in the Price of AVITA Medical Inc. (RCEL) following insiders activity


AVITA Medical Inc.’s recently made public that its Director PERRY MICHAEL S unloaded Company’s shares for reported $1.08 million on Nov 21. In the deal valued at $7.18 per share,150,000 shares were sold. As a result of this transaction, PERRY MICHAEL S now holds 229,543 shares worth roughly $ 2.84 million.

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Piper Sandler initiated its AVITA Medical Inc. [RCEL] rating to an Overweight in a research note published on Friday, March 02, 2021; the price target was $27. PT values the company’s stock at a premium of 54.19 to its Friday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in late August with a ‘”a Buy”‘ rating. Oppenheimer began covering RCEL with “an Outperform” recommendation on April 21, 2020. BTIG Research started covering the stock on March 03, 2020. It rated RCEL as “a Buy”.

Price Performance Review of RCEL

On Friday, AVITA Medical Inc. [NASDAQ:RCEL] saw its stock jump 36.53% to $12.37. On the same session, the stock had its day’s lowest price of $10.4337, but rose to a high of $12.50. Over the last five days, the stock has gained 28.72%. AVITA Medical Inc. shares have risen nearly 87.42% since the year began. Nevertheless, the stocks have risen 44.51% over the past one year. While a 52-week high of $11.00 was reached on 02/24/23, a 52-week low of $4.41 was recorded on 01/03/23. SMA at 50 days reached $8.21, while 200 days put it at $6.45. A total of 1.04 million shares were traded, compared to the trading of 73500.0 shares in the previous session.

Levels Of Support And Resistance For RCEL Stock

The 24-hour chart illustrates a support level at 11.04, which if violated will result in even more drops to 9.70. On the upside, there is a resistance level at 13.10. A further resistance level may holdings at 13.83. The Relative Strength Index (RSI) on the 14-day chart is 80.16, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.59%. Stochastics %K at 43.69% indicates the stock is a holding.

How much short interest is there in AVITA Medical Inc.?

A steep rise in short interest was recorded in AVITA Medical Inc. stocks on Jan 12, 2023, growing by 73720.0 shares to a total of 0.36 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 0.29 million shares. There was a rise of 20.46%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.45% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.85.

AVITA Medical Inc. [RCEL] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 1,138,592 shares, or roughly 4.55% of the outstanding RCEL shares. In other words, the investor’s shares have risen by 571 from its previous 13-F filing of 1138021.0. Additionally, Pura Vida Investments LLC increased 8.76% of its stake after which the total value it holdings stand at $8,725,736, while BlackRock Fund Advisors reduced -0.54% of its stake to hold $4.38 million in the firm. Over the last quarter, Millennium Management LLC purchased 130,919 shares of AVITA Medical Inc., while Geode Capital Management LLC bought 798 shares. At present, Renaissance Technologies LLC is holding 216,312 shares valued at $2.02 million. Columbia Management Investment Ad owned 147,952 shares of the company at the time of its most recent 13F filing, worth $1.38 million.

According to FactSet, AVITA Medical Inc.’s share price will average $16.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 76.6 percent from its previous closing price of $9.06. Analysts expect AVITA Medical Inc. stock to reach the higher price of $30.00, while the lowest price estimate is $6.32. However, 6 analysts have rated RCEL stock as a Buy in their predictions for 2023.


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