D. Boral Capital Has Lowered Expectations for AVITA Medical (NASDAQ:RCEL) Stock Price

AVITA Medical (NASDAQ:RCEL) had its price target decreased by equities research analysts at D. Boral Capital from $25.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. D. Boral Capital’s target price would suggest a potential upside of 125.64% from the stock’s current price.

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

AVITA Medical Stock Performance

NASDAQ:RCEL opened at $9.75 on Thursday. AVITA Medical has a 1 year low of $7.51 and a 1 year high of $18.93. The firm has a 50 day moving average of $10.40 and a 200-day moving average of $10.63. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. The stock has a market capitalization of $255.65 million, a P/E ratio of -4.08 and a beta of 1.55.

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

Insiders Place Their Bets

In other AVITA Medical news, Director Robert Mcnamara bought 10,000 shares of the stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $10.09 per share, with a total value of $100,900.00. Following the acquisition, the director now owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. The trade was a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 12,461 shares of company stock valued at $129,689. Company insiders own 1.82% of the company’s stock.

Institutional Trading of AVITA Medical

A number of institutional investors have recently bought and sold shares of the business. Delta Investment Management LLC grew its holdings in AVITA Medical by 263.7% during the 4th quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock worth $672,000 after acquiring an additional 38,042 shares during the period. Millennium Management LLC bought a new position in shares of AVITA Medical during the fourth quarter worth $426,000. Deutsche Bank AG boosted its position in shares of AVITA Medical by 78.9% during the fourth quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock worth $292,000 after purchasing an additional 10,063 shares in the last quarter. Bank of America Corp DE boosted its position in shares of AVITA Medical by 16.2% during the fourth quarter. Bank of America Corp DE now owns 38,121 shares of the company’s stock worth $488,000 after purchasing an additional 5,324 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of AVITA Medical during the fourth quarter worth $38,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.