AVITA Medical's (RCEL) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of AVITA Medical (NASDAQ:RCEL - Free Report) in a research note published on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $21.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler restated a "neutral" rating and issued a $12.00 target price (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. D. Boral Capital initiated coverage on AVITA Medical in a research note on Tuesday. They set a "buy" rating and a $25.00 target price for the company.

AVITA Medical Stock Performance

Shares of RCEL traded up $1.16 during midday trading on Tuesday, reaching $12.91. 175,749 shares of the stock were exchanged, compared to its average volume of 174,623. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. The stock's 50 day simple moving average is $12.00 and its 200 day simple moving average is $10.27. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $18.93. The company has a market cap of $338.47 million, a P/E ratio of -5.79 and a beta of 1.60.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The business had revenue of $19.55 million during the quarter, compared to the consensus estimate of $19.65 million. During the same period in the prior year, the firm earned ($0.34) EPS. On average, sell-side analysts expect that AVITA Medical will post -2.35 earnings per share for the current year.

Institutional Investors Weigh In On AVITA Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank bought a new stake in shares of AVITA Medical during the third quarter worth $32,000. FMR LLC boosted its holdings in shares of AVITA Medical by 126.9% during the 3rd quarter. FMR LLC now owns 4,248 shares of the company's stock valued at $46,000 after acquiring an additional 2,376 shares in the last quarter. Quest Partners LLC grew its position in AVITA Medical by 269.4% during the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company's stock worth $81,000 after acquiring an additional 5,484 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in AVITA Medical in the 2nd quarter worth about $86,000. Finally, IHT Wealth Management LLC raised its position in AVITA Medical by 24.3% in the third quarter. IHT Wealth Management LLC now owns 28,100 shares of the company's stock valued at $301,000 after purchasing an additional 5,500 shares during the last quarter. 27.66% of the stock is owned by 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.