Analysts Set Avita Medical Inc. (NASDAQ:RCEL) Price Target at $7.25

Avita Medical Inc. (NASDAQ:RCEL) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.25.

A number of analysts have issued reports on RCEL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research report on Wednesday, June 24th. TD Cowen reaffirmed a “buy” rating on shares of Avita Medical in a research report on Tuesday, June 30th. Lake Street Capital upgraded Avita Medical from a “hold” rating to a “buy” rating and increased their price target for the stock from $3.50 to $6.00 in a research note on Friday, May 15th. Wall Street Zen lowered Avita Medical from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, D. Boral Capital reissued a “buy” rating and issued a $10.00 price objective on shares of Avita Medical in a report on Wednesday, April 8th.

Avita Medical Stock Down 2.0%

Avita Medical stock opened at $4.40 on Friday. Avita Medical has a twelve month low of $3.22 and a twelve month high of $7.12. The firm has a 50 day moving average price of $4.38 and a 200-day moving average price of $4.36. The company has a market capitalization of $135.43 million, a P/E ratio of -2.80 and a beta of 1.86.

Avita Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). The company had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.30 million. Equities analysts expect that Avita Medical will post -1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Avita Medical news, Director Joseph Fralin Woody bought 10,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $4.19 per share, for a total transaction of $41,900.00. Following the completion of the transaction, the director directly owned 102,761 shares of the company’s stock, valued at $430,568.59. This trade represents a 10.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 37,200 shares of company stock worth $155,080 in the last three months. 2.24% of the stock is owned by company insiders.

Institutional Trading of Avita Medical

Several hedge funds and other institutional investors have recently modified their holdings of RCEL. AQR Capital Management LLC purchased a new stake in shares of Avita Medical during the 1st quarter valued at approximately $799,000. Jacobs Levy Equity Management Inc. purchased a new position in Avita Medical in the 1st quarter valued at approximately $374,000. Jane Street Group LLC grew its stake in Avita Medical by 20.4% in the 1st quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock valued at $519,000 after buying an additional 10,789 shares in the last quarter. Strs Ohio bought a new stake in Avita Medical during the 1st quarter valued at $116,000. Finally, Rhumbline Advisers raised its holdings in Avita Medical by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock valued at $223,000 after acquiring an additional 3,393 shares during the period. Institutional investors own 27.66% of the company’s stock.

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.