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

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

A number of other equities research analysts have also recently weighed in on the company. D. Boral Capital initiated coverage on AVITA Medical in a report on Tuesday. They set a “buy” rating and a $25.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 target price (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th.

AVITA Medical Stock Up 2.0 %

Shares of AVITA Medical stock opened at $13.17 on Tuesday. 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 business has a 50-day moving average price of $12.10 and a 200 day moving average price of $10.31. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $18.93. The firm has a market cap of $345.29 million, a P/E ratio of -5.91 and a beta of 1.60.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC acquired a new stake in AVITA Medical during the 3rd quarter worth about $2,477,000. Barclays PLC lifted its position in shares of AVITA Medical by 340.0% in the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after purchasing an additional 28,979 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of AVITA Medical by 32.7% during the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after purchasing an additional 22,032 shares during the period. State Street Corp grew its position in AVITA Medical by 2.4% during the third 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 in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in AVITA Medical in the 2nd quarter valued at approximately $86,000. 27.66% of the stock is owned by institutional investors and hedge funds.

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.