AVITA Medical’s (RCEL) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of AVITA Medical (NASDAQ:RCEL) in a research note published on Tuesday,Benzinga reports. The firm currently has a $22.00 price target on the stock.

A number of other research firms have also recently commented on RCEL. Lake Street Capital decreased their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 target price on shares of AVITA Medical in a report on Tuesday, December 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, AVITA Medical currently has an average rating of “Moderate Buy” and an average target price of $17.25.

AVITA Medical Trading Down 4.4 %

Shares of AVITA Medical stock opened at $9.28 on Tuesday. 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 stock has a 50 day moving average of $9.09 and a 200 day moving average of $10.61. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $16.65. The firm has a market capitalization of $243.30 million, a price-to-earnings ratio of -3.88 and a beta of 1.57.

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

Insider Activity at AVITA Medical

In other AVITA Medical news, Director Robert Mcnamara purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $10.09 per share, with a total value of $100,900.00. Following the acquisition, the director now directly owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.82% of the stock is currently owned by company insiders.

Institutional Trading of AVITA Medical

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in AVITA Medical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company’s stock worth $18,220,000 after buying an additional 5,767 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AVITA Medical by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 597,595 shares of the company’s stock worth $7,650,000 after buying an additional 3,159 shares during the last quarter. State Street Corp lifted its holdings in AVITA Medical by 2.4% during the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after buying an additional 11,997 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in AVITA Medical by 13.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 261,171 shares of the company’s stock worth $3,343,000 after buying an additional 30,077 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in AVITA Medical by 5.7% during the 4th quarter. Northern Trust Corp now owns 228,720 shares of the company’s stock worth $2,928,000 after buying an additional 12,253 shares during the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

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.