AVITA Medical (NASDAQ:RCEL) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of AVITA Medical (NASDAQ:RCEL) in a research note published on Friday, Benzinga reports. They currently have a $21.00 price target on the stock.

A number of other equities analysts have also weighed in on RCEL. Piper Sandler reiterated a neutral rating and issued a $9.00 price target (down previously from $21.00) on shares of AVITA Medical in a report on Tuesday, May 14th. BTIG Research downgraded AVITA Medical from a buy rating to a neutral rating in a report on Thursday, April 11th.

AVITA Medical Price Performance

Shares of NASDAQ RCEL traded up $1.64 during midday trading on Friday, hitting $9.57. The company had a trading volume of 428,229 shares, compared to its average volume of 216,905. The business has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $11.89. The firm has a market capitalization of $246.91 million, a price-to-earnings ratio of -5.44 and a beta of 1.54. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $20.01. The company has a quick ratio of 6.64, a current ratio of 7.25 and a debt-to-equity ratio of 1.27.

AVITA Medical (NASDAQ:RCEL) last released its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). The firm had revenue of $15.20 million during the quarter, compared to analysts’ expectations of $15.04 million. AVITA Medical had a negative net margin of 88.41% and a negative return on equity of 84.07%. During the same quarter last year, the company posted ($0.41) earnings per share. Equities research analysts anticipate that AVITA Medical will post -1.78 earnings per share for the current year.

Institutional Trading of AVITA Medical

A number of institutional investors and hedge funds have recently made changes to their positions in RCEL. Vanguard Group Inc. increased its stake in shares of AVITA Medical by 0.8% during the third quarter. Vanguard Group Inc. now owns 1,360,696 shares of the company’s stock valued at $19,880,000 after acquiring an additional 11,062 shares during the period. CenterBook Partners LP bought a new stake in shares of AVITA Medical in the 4th quarter worth $234,000. Aigen Investment Management LP bought a new stake in shares of AVITA Medical in the 4th quarter worth $220,000. Strs Ohio lifted its holdings in shares of AVITA Medical by 11.4% in the fourth quarter. Strs Ohio now owns 41,100 shares of the company’s stock valued at $563,000 after buying an additional 4,200 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new position in AVITA Medical during the first quarter valued at about $3,874,000. 27.66% of the stock is currently owned by institutional investors and hedge funds.

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.