Avita Medical Inc. (NASDAQ:RCEL) Given Consensus Rating of “Hold” by Analysts

Shares of Avita Medical Inc. (NASDAQ:RCEL) have been assigned a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.50.

Several equities research analysts have recently issued reports on the company. Lake Street Capital increased their target price on shares of Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. D. Boral Capital reissued a “buy” rating and issued a $10.00 price objective on shares of Avita Medical in a research note on Monday, January 26th. BTIG Research raised Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Finally, Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th.

Avita Medical Stock Performance

Shares of NASDAQ:RCEL opened at $3.90 on Friday. The firm has a market cap of $118.91 million, a price-to-earnings ratio of -2.15 and a beta of 1.78. The firm has a fifty day moving average price of $3.69 and a 200 day moving average price of $4.37. Avita Medical has a fifty-two week low of $3.22 and a fifty-two week high of $11.25.

Avita Medical (NASDAQ:RCEL) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.03). The company had revenue of $17.06 million for the quarter, compared to the consensus estimate of $29.39 million. As a group, research analysts predict that Avita Medical will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On Avita Medical

A number of institutional investors and hedge funds have recently bought and sold shares of RCEL. Bridgeway Capital Management LLC lifted its stake in Avita Medical by 213.8% in the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after acquiring an additional 80,404 shares during the period. Divisadero Street Capital Management LP bought a new stake in shares of Avita Medical in the 3rd quarter valued at about $511,000. AQR Capital Management LLC purchased a new stake in shares of Avita Medical in the 1st quarter worth approximately $799,000. Jane Street Group LLC lifted its position in shares of Avita Medical by 36.1% in the 2nd quarter. Jane Street Group LLC now owns 86,730 shares of the company’s stock worth $459,000 after purchasing an additional 22,986 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Avita Medical by 49.7% during the second quarter. Bank of America Corp DE now owns 62,551 shares of the company’s stock valued at $331,000 after purchasing an additional 20,767 shares in the last quarter. 27.66% of the stock is owned by institutional investors.

Avita Medical Company Profile

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.