AVITA Medical (NASDAQ:RCEL) Given New $22.00 Price Target at D. Boral Capital

AVITA Medical (NASDAQ:RCEL - Get Free Report) had its target price lowered by equities researchers at D. Boral Capital from $25.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. D. Boral Capital's price objective points to a potential upside of 125.64% from the company's current price.

Several other equities analysts have also recently weighed in on RCEL. Piper Sandler reaffirmed a "neutral" rating and set a $12.00 target price (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Lake Street Capital cut their target price on shares of AVITA Medical from $20.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set 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.com, AVITA Medical currently has an average rating of "Moderate Buy" and an average price target of $17.25.

AVITA Medical Price Performance

Shares of RCEL stock traded down $0.20 on Thursday, hitting $9.75. 259,662 shares of the stock traded hands, compared to its average volume of 178,464. The firm has a market cap of $255.65 million, a price-to-earnings ratio of -4.08 and a beta of 1.55. AVITA Medical has a 52 week low of $7.51 and a 52 week high of $18.93. The firm has a 50 day simple moving average of $10.40 and a two-hundred day simple moving average of $10.63. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14). The firm had revenue of $18.41 million for the quarter, compared to the consensus estimate 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, equities research analysts predict that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AVITA Medical news, Director Robert Mcnamara acquired 10,000 shares of the company's stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $10.09 per share, with a total value of $100,900.00. Following the purchase, the director now directly owns 45,749 shares of the company's stock, valued at approximately $461,607.41. This represents a 27.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 12,461 shares of company stock valued at $129,689 in the last three months. Corporate insiders own 1.82% of the company's stock.

Hedge Funds Weigh In On AVITA Medical

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in shares of AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company's stock worth $958,000 after buying an additional 22,032 shares in the last quarter. Barclays PLC grew its holdings in AVITA Medical by 340.0% during the 3rd 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. Geode Capital Management LLC grew its holdings in AVITA Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company's stock valued at $6,373,000 after purchasing an additional 8,361 shares during the last quarter. State Street Corp grew its holdings 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 purchasing an additional 11,997 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in AVITA Medical by 38.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company's stock valued at $347,000 after purchasing an additional 8,985 shares during 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.