Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. AVITA Medical Inc shares valued at $21,738 were purchased by O’Toole David D on Feb 28 ’24. At $17.39 per share, O’Toole David D acquired 1,250 shares. The insider’s holdings grew to 18,734 shares worth approximately $0.19 million following the completion of this transaction.
Also, CORBETT JAMES sold 1,445 shares, netting a total of over 19,204 in proceeds. Following the sale of shares at $13.29 each, the insider now holds 11,580 shares.
Before that, COOK JEREMY CURNOCK had sold 2,518 shares from its account. In a trade valued at $30,896, the Director traded AVITA Medical Inc shares for $12.27 each. Upon closing the transaction, the insider’s holdings decreased to 2,518 shares, worth approximately $0.21 million.
As published in a research note from BTIG Research on April 11, 2024, AVITA Medical Inc [RCEL] has been rated down from a Buy to a Neutral. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in late June. As of March 02, 2021, Piper Sandler has initiated its “an Overweight” rating for RCEL. Earlier on August 27, 2020, BofA Securities initiated its rating. Their recommendation was “a Buy” for RCEL stock.
Analyzing RCEL Stock Performance
During the last five days, there has been a drop of approximately -31.55%. Over the course of the year, AVITA Medical Inc shares have dropped approximately -24.56%. Shares of the company reached a 52-week high of $18.93 on 02/27/24 and a 52-week low of $9.86 on 04/11/24. A 50-day SMA is recorded $16.55, while a 200-day SMA reached $14.87. Nevertheless, trading volume fell to 2.05 million shares from 0.14 million shares the previous day.
Support And Resistance Levels for AVITA Medical Inc (RCEL)
According to the 24-hour chart, there is a support level at 9.35, which, if violated, would cause prices to drop to 8.34. In the upper region, resistance lies at 11.87. The next price resistance is at 13.38. RSI (Relative Strength Index) is 17.05 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.85, which suggests the price will decrease in the coming days. Percent R is at 92.78%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is AVITA Medical Inc subject to short interest?
Stocks of AVITA Medical Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 88860.0 shares to 0.59 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 0.5 million shares. A jump of 15.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.61.
