AVITA Medical’s (RCEL) Overweight Rating Reiterated at Cantor Fitzgerald

AVITA Medical (NASDAQ:RCEL)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They currently have a $21.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 62.66% from the stock’s current price.

Several other research analysts also recently commented on the stock. Piper Sandler reissued a “neutral” rating and set a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital started coverage on shares of AVITA Medical in a research report on Tuesday. They issued a “buy” rating and a $25.00 target price on the stock.

AVITA Medical Stock Up 9.9 %

Shares of NASDAQ:RCEL opened at $12.91 on Tuesday. The firm has a market capitalization of $338.47 million, a PE ratio of -5.79 and a beta of 1.60. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. AVITA Medical has a 52-week low of $7.51 and a 52-week high of $18.93. The firm has a fifty day moving average of $12.05 and a 200 day moving average of $10.29.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The firm had revenue of $19.55 million during the quarter, compared to analysts’ expectations of $19.65 million. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. During the same quarter in the previous year, the company posted ($0.34) earnings per share. As a group, research analysts anticipate that AVITA Medical will post -2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in AVITA Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock valued at $6,373,000 after buying an additional 8,361 shares during the period. State Street Corp raised its stake in shares of AVITA Medical by 2.4% during the third quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after acquiring an additional 11,997 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of AVITA Medical in the third quarter worth about $2,477,000. Jane Street Group LLC increased its holdings in AVITA Medical by 32.7% during the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after purchasing an additional 22,032 shares during the period. Finally, Barclays PLC raised its position in AVITA Medical by 340.0% during the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after purchasing an additional 28,979 shares during the last quarter. Institutional investors own 27.66% of the company’s stock.

AVITA Medical Company Profile

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.