AVITA Medical (NASDAQ:RCEL) Price Target Cut to $22.00 by Analysts at D. Boral Capital

AVITA Medical (NASDAQ:RCEL) had its price objective trimmed by D. Boral Capital from $25.00 to $22.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

RCEL has been the topic of a number of other research reports. Lake Street Capital decreased their price target on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Piper Sandler reiterated a “neutral” rating and issued a $12.00 target price (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a research report on Tuesday, December 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.25.

AVITA Medical Stock Down 2.6 %

Shares of NASDAQ:RCEL opened at $9.95 on Thursday. The company has a market cap of $260.87 million, a price-to-earnings ratio of -4.16 and a beta of 1.55. AVITA Medical has a one year low of $7.51 and a one year high of $18.93. The firm has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $10.62. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47.

AVITA Medical (NASDAQ:RCEL) last posted its earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate 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 business had revenue of $18.41 million for the quarter, compared to analysts’ expectations of $18.40 million. Analysts anticipate that AVITA Medical will post -1.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Mcnamara bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $10.09 per share, for a total transaction of $100,900.00. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 12,461 shares of company stock valued at $129,689. Corporate insiders own 1.82% of the company’s stock.

Hedge Funds Weigh In On AVITA Medical

A number of large investors have recently bought and sold shares of the stock. AlphaQuest LLC grew its holdings in shares of AVITA Medical by 24.7% in the fourth quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock worth $120,000 after purchasing an additional 1,858 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in AVITA Medical by 48.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock worth $92,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC grew its holdings in AVITA Medical by 126.9% in the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after acquiring an additional 2,376 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of AVITA Medical in the fourth quarter valued at about $38,000. Finally, Huntington National Bank bought a new position in shares of AVITA Medical during the third quarter valued at about $32,000. 27.66% of the stock is owned by hedge funds and other institutional investors.

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.