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

D. Boral Capital restated their buy rating on shares of AVITA Medical (NASDAQ:RCEL - Free Report) in a research note released on Friday morning,Benzinga reports. D. Boral Capital currently has a $22.00 price objective on the stock.

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

AVITA Medical Stock Performance

RCEL stock traded up $0.86 during midday trading on Friday, reaching $8.53. The stock had a trading volume of 159,944 shares, compared to its average volume of 191,045. The firm has a fifty day simple moving average of $8.92 and a two-hundred day simple moving average of $10.49. AVITA Medical has a 52-week low of $6.90 and a 52-week high of $15.26. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. The stock has a market cap of $223.51 million, a PE ratio of -3.59 and a beta of 1.60.

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AVITA Medical (NASDAQ:RCEL - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $18.41 million for the quarter, compared to analyst estimates of $18.40 million. As a group, equities research analysts anticipate that AVITA Medical will post -0.95 EPS for the current year.

Insider Transactions at AVITA Medical

In other news, Director Robert Mcnamara acquired 10,000 shares of the business's stock in a transaction 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 purchase, the director now owns 45,749 shares in the company, valued at approximately $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.82% of the company's stock.

Institutional Trading of AVITA Medical

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings 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 purchasing an additional 2,376 shares in the last quarter. IHT Wealth Management LLC boosted its position in AVITA Medical by 24.3% during the third quarter. IHT Wealth Management LLC now owns 28,100 shares of the company's stock worth $301,000 after acquiring an additional 5,500 shares during the last quarter. State Street Corp grew its stake in AVITA Medical by 2.4% during the 3rd quarter. State Street Corp now owns 519,997 shares of the company's stock valued at $5,574,000 after acquiring an additional 11,997 shares in the last quarter. Jane Street Group LLC raised its holdings in AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company's stock valued at $958,000 after acquiring an additional 22,032 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of AVITA Medical by 340.0% in the third quarter. Barclays PLC now owns 37,503 shares of the company's stock valued at $402,000 after purchasing an additional 28,979 shares during the last quarter. 27.66% of the stock is 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.