AVITA Medical’s (RCEL) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of AVITA Medical (NASDAQ:RCEL) in a research note released on Tuesday morning,Benzinga reports. They currently have a $22.00 target price on the stock.

Several other equities analysts have also recently issued reports on RCEL. Lake Street Capital lowered their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.25.

AVITA Medical Stock Performance

Shares of RCEL opened at $9.25 on Tuesday. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. The business’s 50 day moving average price is $9.07 and its 200-day moving average price is $10.63. AVITA Medical has a 52 week low of $7.51 and a 52 week high of $16.65. The stock has a market cap of $242.52 million, a P/E ratio of -3.87 and a beta of 1.57.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. The company had revenue of $18.41 million during the quarter, compared to the consensus estimate of $18.40 million. Equities research analysts anticipate that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at AVITA Medical

In related news, Director Robert Mcnamara bought 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $10.09 per share, for a total transaction of $100,900.00. Following the purchase, the director now owns 45,749 shares in the company, valued at approximately $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.82% of the company’s stock.

Institutional Investors Weigh In On AVITA Medical

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its holdings in shares of 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. Barclays PLC boosted its stake in shares of AVITA Medical by 340.0% during the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after acquiring an additional 28,979 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AVITA Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after acquiring an additional 8,361 shares during the last quarter. State Street Corp grew its position in shares of AVITA Medical by 2.4% during the 3rd 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 period. Finally, JPMorgan Chase & Co. increased its stake in shares of AVITA Medical by 38.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock worth $347,000 after purchasing an additional 8,985 shares in the last quarter. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

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.