AVITA Medical (NASDAQ:RCEL) Given New $14.00 Price Target at Lake Street Capital

AVITA Medical (NASDAQ:RCEL) had its price objective cut by Lake Street Capital from $20.00 to $14.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also weighed in on RCEL. D. Boral Capital reiterated a “buy” rating and set a $25.00 price objective on shares of AVITA Medical in a report on Wednesday. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price target (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a report on Tuesday, December 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

AVITA Medical Stock Down 36.4 %

RCEL stock opened at $8.94 on Wednesday. The company has a 50 day moving average price of $12.53 and a two-hundred day moving average price of $10.59. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. The stock has a market capitalization of $234.39 million, a P/E ratio of -4.01 and a beta of 1.58. AVITA Medical has a one year low of $7.51 and a one year high of $18.93.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The business had revenue of $19.55 million during the quarter, compared to analysts’ expectations of $19.65 million. During the same period in the prior year, the firm earned ($0.34) EPS. As a group, sell-side analysts expect that AVITA Medical will post -2.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCEL. FMR LLC raised its stake in shares of AVITA Medical by 126.9% in the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock valued at $46,000 after acquiring an additional 2,376 shares during the period. Huntington National Bank purchased a new position in AVITA Medical in the third quarter valued at about $32,000. Rhumbline Advisers lifted its stake in shares of AVITA Medical by 13.9% during the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock worth $289,000 after purchasing an additional 4,463 shares in the last quarter. Quest Partners LLC lifted its stake in shares of AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after purchasing an additional 5,484 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of AVITA Medical by 24.3% in the third quarter. IHT Wealth Management LLC now owns 28,100 shares of the company’s stock worth $301,000 after buying an additional 5,500 shares during the period. 27.66% of the stock is owned by institutional investors and hedge funds.

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.