AVITA Medical (NASDAQ:RCEL) Earns "Buy" Rating from D. Boral Capital

AVITA Medical (NASDAQ:RCEL - Get Free Report)'s stock had its "buy" rating reissued by D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $22.00 target price on the stock. D. Boral Capital's target price points to a potential upside of 145.54% from the company's current price.

Several other equities research analysts have also issued reports on RCEL. Lake Street Capital lowered their target price on shares of 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 reissued an "overweight" rating and set a $21.00 target price on shares of AVITA Medical in a research note on Tuesday, December 24th. Two 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.25.

AVITA Medical Stock Performance

RCEL traded down $0.32 during midday trading on Tuesday, hitting $8.96. 249,775 shares of the company were exchanged, compared to its average volume of 185,124. The company's 50 day simple moving average is $9.08 and its 200 day simple moving average is $10.61. The firm has a market capitalization of $234.91 million, a price-to-earnings ratio of -3.75 and a beta of 1.57. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. AVITA Medical has a 1-year low of $7.51 and a 1-year high of $16.65.

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

Insider Activity at AVITA Medical

In related news, Director Robert Mcnamara purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $10.09 per share, with a total value of $100,900.00. Following the purchase, the director now owns 45,749 shares of the company's stock, valued at $461,607.41. This represents a 27.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCEL. Huntington National Bank purchased a new position in AVITA Medical in the 3rd quarter valued at about $32,000. Quest Partners LLC lifted its stake in AVITA Medical by 269.4% in the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company's stock valued at $81,000 after buying an additional 5,484 shares in the last quarter. FMR LLC lifted its stake in 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. IHT Wealth Management LLC lifted its stake in AVITA Medical by 24.3% in the 3rd quarter. IHT Wealth Management LLC now owns 28,100 shares of the company's stock valued at $301,000 after buying an additional 5,500 shares in the last quarter. Finally, State Street Corp lifted its stake in AVITA Medical by 2.4% in the 3rd quarter. State Street Corp now owns 519,997 shares of the company's stock valued at $5,574,000 after buying an additional 11,997 shares in the last quarter. 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.