Why the Avita Medical (ASX:AVH) share price is outperforming today

Avita shares are on the climb today.
The post Why the Avita Medical (ASX:AVH) share price is outperforming today appeared first on The Motley Fool Australia. –

The Avita Medical Inc (ASX: AVH) share price is well into the green during afternoon trading on Wednesday.

Whereas the S&P/ASX 200 Index (ASX: XJO) has stepped 0.29% into the red from the market open, Avita shares are 1.85% up on the day.

A quick recap on Avita Medical

Avita Medical is a medical technology company that specialises in regenerative medicine.

The company’s flagship product, the RECELL system, is used in the treatment of burns and has been dubbed a revolutionary new process.

At the time of writing, Avita Medical has a market capitalisation of $671 million.

What’s up with the Avita Medical share price today?

There has been no market-sensitive information released by the company today. However, Avita did release an announcement that explained its management will “participate” in the Lake Street 2021 BIG 5 Conference. The conference is available for virtual attendance on Tuesday 14 September.

The Best Ideas Growth Conference, shortened as the “BIG 5” Conference, is “an invitation-only event, featuring over 100 dynamic, small-cap companies interacting with top institutional investors”.

Avita joins an extensive list of small-cap companies listed on various exchanges. Each name will be either attending and/or participating in the event, sharing their technology or innovative differences.

The companies range across several sectors, including life sciences, semiconductors, 3D printing, and consumer discretionary to name a few.

It is unclear what Avita will be presenting at the event although it may showcase its “point of care autologous skin restoration” technology, known as RECELL. The RECELL technology regenerates damaged skin by using a person’s own skin cells to do so.

Investors seem to have favoured the news and are pushing the Avita Medical share price higher on the day.

Avita Medical share price snapshot

The Avita Medical share price has had a choppy year to date, posting a gain of just 11% since January 1. Over the last month, Avita shares have climbed around 8% into the green.

Despite this, Avita shares have sunk 18% in the red over the past 12 months. These results have lagged the broad index’s return of around 25% over the past year.

The post Why the Avita Medical (ASX:AVH) share price is outperforming today appeared first on The Motley Fool Australia.

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More reading

Avita Medical (ASX:AVH) share price up 7% following FY21 earnings
Avita Medical (ASX:AVH) share price jumps on FDA approval
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3 small cap ASX shares to watch

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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