Brokerages Set Avita Medical Inc. (NASDAQ:RCEL) Price Target at $6.63
by Mitch Edgeman · The Markets DailyShares of Avita Medical Inc. (NASDAQ:RCEL – Get Free Report) have been assigned an average rating of “Hold” from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.6250.
RCEL has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. D. Boral Capital reissued a “buy” rating and set a $10.00 target price on shares of Avita Medical in a research report on Tuesday, February 17th. Northland Securities assumed coverage on shares of Avita Medical in a research note on Thursday, March 5th. They issued an “outperform” rating and a $10.00 target price for the company. Zacks Research raised shares of Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Finally, Lake Street Capital upped their price target on Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th.
Read Our Latest Stock Report on RCEL
Avita Medical Price Performance
RCEL opened at $3.82 on Friday. The firm has a market capitalization of $117.01 million, a PE ratio of -2.18 and a beta of 1.77. The business’s 50-day moving average is $4.38 and its two-hundred day moving average is $4.22. Avita Medical has a 1 year low of $3.22 and a 1 year high of $10.29.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in RCEL. AQR Capital Management LLC purchased a new stake in Avita Medical in the first quarter valued at about $799,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Avita Medical during the first quarter worth about $374,000. Jane Street Group LLC increased its holdings in shares of Avita Medical by 20.4% during the first quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock valued at $519,000 after acquiring an additional 10,789 shares in the last quarter. Strs Ohio acquired a new position in shares of Avita Medical during the first quarter valued at about $116,000. Finally, Rhumbline Advisers raised its position in shares of Avita Medical by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock valued at $223,000 after purchasing an additional 3,393 shares during the last quarter. 27.66% of the stock is owned by institutional investors and hedge funds.
Avita Medical Company Profile
Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.
Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.