AVITA Medical's (RCEL) "Neutral" Rating Reaffirmed at Piper Sandler

AVITA Medical (NASDAQ:RCEL - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at Piper Sandler in a research report issued on Friday,Benzinga reports. They presently have a $12.00 price target on the stock, up from their prior price target of $9.00. Piper Sandler's target price would suggest a potential upside of 0.42% from the company's current price.

Separately, Cantor Fitzgerald reiterated an "overweight" rating and issued a $21.00 price target on shares of AVITA Medical in a research note on Friday, August 9th.

AVITA Medical Price Performance

NASDAQ:RCEL traded down $0.45 during trading hours on Friday, reaching $11.95. 229,087 shares of the company were exchanged, compared to its average volume of 183,853. The business has a 50 day moving average of $10.31 and a 200 day moving average of $9.33. AVITA Medical has a 1-year low of $7.51 and a 1-year high of $18.93. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.29 and a quick ratio of 4.81. The company has a market capitalization of $310.58 million, a P/E ratio of -5.85 and a beta of 1.54.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.01). The firm had revenue of $15.20 million for the quarter, compared to the consensus estimate of $15.04 million. AVITA Medical had a negative return on equity of 118.27% and a negative net margin of 92.04%. During the same period in the prior year, the company earned ($0.41) EPS. Research analysts forecast that AVITA Medical will post -2.16 EPS for the current year.

Institutional Trading of AVITA Medical

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in AVITA Medical by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company's stock worth $22,572,000 after purchasing an additional 15,356 shares in the last quarter. EntryPoint Capital LLC bought a new stake in AVITA Medical in the 1st quarter valued at about $224,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of AVITA Medical during the 1st quarter valued at approximately $3,874,000. Rhumbline Advisers grew its position in shares of AVITA Medical by 13.9% in the second quarter. Rhumbline Advisers now owns 36,530 shares of the company's stock valued at $289,000 after purchasing an additional 4,463 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in AVITA Medical during the second quarter valued at approximately $86,000. Institutional investors and hedge funds 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.