AVITA Medical’s (RCEL) “Buy” Rating Reiterated at D. Boral Capital

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

RCEL has been the subject of several other reports. Lake Street Capital cut their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 target price on shares of AVITA Medical in a research report on Tuesday, December 24th.

AVITA Medical Stock Down 0.1 %

RCEL opened at $8.62 on Thursday. The firm has a market cap of $226.00 million, a P/E ratio of -3.61 and a beta of 1.60. The business’s fifty day simple moving average is $8.88 and its 200 day simple moving average is $10.44. AVITA Medical has a 52 week low of $6.90 and a 52 week high of $14.16. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39.

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

Insider Activity

In other news, Director Robert Mcnamara bought 10,000 shares of AVITA Medical stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $10.09 per share, for a total transaction of $100,900.00. Following the completion of the acquisition, the director now owns 45,749 shares of the company’s stock, valued at $461,607.41. The trade was a 27.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.82% of the company’s stock.

Hedge Funds Weigh In On AVITA Medical

A number of large investors have recently modified their holdings of the company. FMR LLC increased its position in AVITA Medical by 126.9% during the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after purchasing an additional 2,376 shares in the last quarter. State Street Corp increased its position in shares of 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 acquiring an additional 11,997 shares in the last quarter. Jane Street Group LLC raised its stake in shares of AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after acquiring an additional 22,032 shares during the period. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 28,979 shares in the last quarter. Finally, 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 worth $6,373,000 after purchasing an additional 8,361 shares during the period. 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.