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VALENCIA, CA—Suzanne Crowe, a director at AVITA Medical (TASE:PMCN), Inc. (NASDAQ:RCEL), recently acquired 486 shares of the company’s common stock. The transaction, dated December 9, 2024, was executed at a price of $13.15 per share, amounting to a total purchase value of $6,390. Following this acquisition, Crowe’s direct ownership in AVITA Medical stands at 36,912 shares. The purchase comes as the $252 million market cap company demonstrates strong revenue growth of 32% over the last twelve months. According to InvestingPro analysis, AVITA Medical appears undervalued at current trading levels, with 12 additional ProTips available to subscribers.
The shares were acquired as part of a transaction involving CHESS Depositary Interests (CDIs), which are traded on the Australian Securities Exchange. Each CDI represents a beneficial interest in the company’s common stock, with five CDIs equivalent to one share of common stock. The company maintains a healthy liquidity position with a current ratio of 3.73, indicating strong ability to meet short-term obligations. Discover more detailed insights and access the comprehensive Pro Research Report for AVITA Medical on InvestingPro.
In other recent news, Avita Medical has been making significant strides in the healthcare sector. The company has reported a robust growth of 44% year-over-year, with commercial revenue reaching $19.5 million in the third quarter of 2024. Despite a net loss for the quarter, Avita Medical is progressing towards achieving cash flow break-even and GAAP profitability by Q3 2025.
Analysts from Lake Street Capital Markets and D. Boral (OTC:BOALY) Capital have adjusted their outlook on Avita Medical. Lake Street reduced the price target to $14, while maintaining a Buy rating, following a reported revenue shortfall for the fourth quarter. D. Boral Capital initiated coverage with a Buy rating and a $25.00 price target, citing strong growth potential driven by its innovative tissue regeneration technology, Recell.
Avita Medical has seen FDA approval for RECELL GO mini and clearance for Cohealyx, both anticipated to be key drivers in the company’s revenue growth for 2025. The RECELL GO platform now represents 75% of the company’s revenue. The full commercial launch of Cohealyx is expected in the second quarter of 2025, and it is projected to triple the addressable market for burns treatment.
Avita Medical’s RECELL GO Mini, a device designed for treating smaller wounds, has received premarket approval from the FDA. This approval is anticipated to expand Avita Medical’s market reach within its full thickness skin defect indication. Following this approval, Cantor Fitzgerald reaffirmed its Overweight rating for the company. These recent developments indicate Avita Medical’s continued strides in the healthcare sector.
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