AVITA Medical (NASDAQ:RCEL) Earns “Buy” Rating from D. Boral Capital

D. Boral Capital reissued their buy rating on shares of AVITA Medical (NASDAQ:RCEL) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $22.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a research report on Tuesday, December 24th. Lake Street Capital dropped their target price 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.25.

AVITA Medical Stock Down 4.4 %

AVITA Medical stock opened at $9.28 on Tuesday. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $16.65. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. The company has a market capitalization of $243.30 million, a P/E ratio of -3.88 and a beta of 1.57. The stock has a 50-day simple moving average of $9.09 and a 200-day simple moving average of $10.61.

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

Insiders Place Their Bets

In other news, Director Robert Mcnamara purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $10.09 per share, with a total value of $100,900.00. Following the purchase, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AVITA Medical

A number of institutional investors and hedge funds have recently bought and sold shares of RCEL. Delta Investment Management LLC lifted its stake in AVITA Medical by 263.7% in the 4th quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock valued at $672,000 after buying an additional 38,042 shares in the last quarter. Millennium Management LLC purchased a new stake in AVITA Medical in the 4th quarter valued at approximately $426,000. Essex Investment Management Co. LLC lifted its stake in AVITA Medical by 13.0% in the 4th quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock valued at $3,343,000 after buying an additional 30,077 shares in the last quarter. Barclays PLC lifted its stake in AVITA Medical by 340.0% in the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after buying an additional 28,979 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in 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 buying an additional 22,032 shares in the last quarter. Hedge funds and other institutional investors own 27.66% of the company’s stock.

AVITA Medical Company Profile

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.