AVITA Medical (NASDAQ:RCEL) Given New $14.00 Price Target at Lake Street Capital

AVITA Medical (NASDAQ:RCEL) had its price objective dropped by equities researchers at Lake Street Capital from $20.00 to $14.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price target indicates a potential upside of 56.60% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th. D. Boral Capital restated a “buy” rating and set a $25.00 price target on shares of AVITA Medical in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

AVITA Medical Trading Down 36.4 %

RCEL opened at $8.94 on Wednesday. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $18.93. The firm has a market capitalization of $234.39 million, a PE ratio of -4.01 and a beta of 1.58. The company has a debt-to-equity ratio of 3.48, a current ratio of 3.73 and a quick ratio of 3.37. The company’s 50-day moving average is $12.51 and its 200 day moving average is $10.58.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The company had revenue of $19.55 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted ($0.34) earnings per share. As a group, research analysts predict that AVITA Medical will post -2.35 earnings per share for the current fiscal year.

Institutional Trading of AVITA Medical

A number of large investors have recently added to or reduced their stakes in RCEL. JPMorgan Chase & Co. grew its position in shares of AVITA Medical by 38.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock valued at $347,000 after acquiring an additional 8,985 shares during the period. Barclays PLC lifted its stake in AVITA Medical by 340.0% in the third 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. Geode Capital Management LLC grew its holdings in AVITA Medical by 1.4% during the third quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock valued at $6,373,000 after purchasing an additional 8,361 shares during the period. Jane Street Group LLC increased its position in AVITA Medical by 32.7% in the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after buying an additional 22,032 shares during the last quarter. Finally, State Street Corp increased its position in AVITA Medical by 2.4% in the third quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after buying an additional 11,997 shares during the last quarter. Hedge funds and other institutional investors own 27.66% of the company’s stock.

About AVITA Medical

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.