Avita Medical Inc. (NASDAQ:RCEL) Given Average Rating of “Hold” by Analysts

by · The Markets Daily

Shares of Avita Medical Inc. (NASDAQ:RCEL – Get Free Report) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

A number of equities research analysts have weighed in on RCEL shares. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a report on Thursday, November 20th. Lake Street Capital cut Avita Medical from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.00 to $4.00 in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research report on Monday. Zacks Research cut Avita Medical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, D. Boral Capital reissued a “buy” rating and issued a $14.00 target price on shares of Avita Medical in a research note on Friday, November 7th.

Check Out Our Latest Analysis on RCEL

Institutional Trading of Avita Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Avita Medical in the third quarter worth about $32,000. The Manufacturers Life Insurance Company bought a new stake in shares of Avita Medical during the second quarter valued at approximately $58,000. Strs Ohio purchased a new position in Avita Medical in the 1st quarter worth approximately $116,000. PharVision Advisers LLC purchased a new position in Avita Medical in the 2nd quarter worth approximately $87,000. Finally, Curi Capital LLC bought a new position in Avita Medical in the 2nd quarter valued at approximately $100,000. 27.66% of the stock is currently owned by institutional investors.

Avita Medical Trading Down 2.1%

Shares of Avita Medical stock opened at $3.33 on Friday. Avita Medical has a 12 month low of $3.25 and a 12 month high of $14.16. The firm has a market capitalization of $101.53 million, a P/E ratio of -1.84 and a beta of 1.66. The business has a fifty day simple moving average of $3.96 and a two-hundred day simple moving average of $4.83.

Avita Medical (NASDAQ:RCEL – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The business had revenue of $17.06 million during the quarter, compared to analysts’ expectations of $29.39 million. Avita Medical had a negative return on equity of 632.62% and a negative net margin of 67.07%. Analysts predict that Avita Medical will post -0.95 earnings per share for the current year.

Avita Medical Company Profile

(Get Free Report)

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.

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