Cantor Fitzgerald Reaffirms “Overweight” Rating for AVITA Medical (NASDAQ:RCEL)

AVITA Medical (NASDAQ:RCEL)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They presently have a $21.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 119.44% from the company’s current price.

RCEL has been the subject of a number of other reports. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $21.00) on shares of AVITA Medical in a research report on Tuesday, May 14th. BTIG Research cut shares of AVITA Medical from a “buy” rating to a “neutral” rating in a research report on Thursday, April 11th.

AVITA Medical Stock Performance

Shares of RCEL stock traded up $1.64 during midday trading on Friday, hitting $9.57. 428,229 shares of the company were exchanged, compared to its average volume of 216,905. The firm has a market capitalization of $246.91 million, a P/E ratio of -5.44 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a quick ratio of 6.64 and a current ratio of 7.25. The firm’s 50 day moving average price is $8.84 and its two-hundred day moving average price is $11.89. AVITA Medical has a 52 week low of $7.51 and a 52 week high of $20.01.

AVITA Medical (NASDAQ:RCEL) last issued its earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.01). The firm had revenue of $15.20 million during the quarter, compared to analyst estimates 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 in the previous year, the firm posted ($0.41) earnings per share. As a group, equities research analysts anticipate that AVITA Medical will post -1.78 earnings per share for the current year.

Hedge Funds Weigh In On AVITA Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in AVITA Medical in the 1st quarter valued at approximately $224,000. Aigen Investment Management LP bought a new stake in shares of AVITA Medical in the 4th quarter valued at $220,000. CenterBook Partners LP bought a new stake in shares of AVITA Medical in the 4th quarter valued at $234,000. Rhumbline Advisers boosted its stake in shares of AVITA Medical by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after purchasing an additional 4,463 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of AVITA Medical by 11.4% in the 4th quarter. Strs Ohio now owns 41,100 shares of the company’s stock valued at $563,000 after purchasing an additional 4,200 shares during the last quarter. 27.66% of the stock is currently 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.