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 report issued on Friday morning,Benzinga reports. D. Boral Capital currently has a $22.00 price objective on the stock.

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

AVITA Medical Stock Performance

Shares of AVITA Medical stock opened at $7.50 on Friday. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47. The stock has a market capitalization of $196.64 million, a price-to-earnings ratio of -3.14 and a beta of 1.60. The business has a 50-day moving average of $9.02 and a 200 day moving average of $10.55. AVITA Medical has a 12 month low of $6.90 and a 12 month high of $15.50.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data 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 net margin of 96.26% and a negative return on equity of 337.91%. The business had revenue of $18.41 million during the quarter, compared to analysts’ expectations of $18.40 million. As a group, sell-side analysts forecast that AVITA Medical will post -0.95 earnings per share for the current year.

Insider Buying and Selling

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. Insiders own 1.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in AVITA Medical in the fourth quarter valued at approximately $38,000. FMR LLC boosted its holdings 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 buying an additional 2,376 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of AVITA Medical by 48.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock valued at $92,000 after buying an additional 2,324 shares in the last quarter. AlphaQuest LLC grew its position in shares of AVITA Medical by 24.7% in the 4th quarter. AlphaQuest LLC now owns 9,378 shares of the company’s stock valued at $120,000 after buying an additional 1,858 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in AVITA Medical during the 4th quarter worth $135,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.