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

AVITA Medical (NASDAQ:RCEL) had its target price cut by D. Boral Capital from $25.00 to $22.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Lake Street Capital lowered their price target on AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research note on Tuesday, December 24th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

AVITA Medical Trading Down 2.0 %

Shares of RCEL opened at $9.75 on Thursday. AVITA Medical has a 12-month low of $7.51 and a 12-month high of $18.93. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. The firm has a market capitalization of $255.65 million, a price-to-earnings ratio of -4.08 and a beta of 1.55. The stock’s 50-day moving average price is $10.40 and its 200 day moving average price is $10.65.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14). AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. The firm had revenue of $18.41 million for the quarter, compared to the consensus estimate of $18.40 million. As a group, research analysts predict that AVITA Medical will post -0.95 earnings per share for the current year.

Insider Activity

In other AVITA Medical news, Director Robert Mcnamara purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $10.09 per share, for a total transaction of $100,900.00. Following the transaction, the director now directly owns 45,749 shares in the company, valued at approximately $461,607.41. The trade was a 27.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have purchased 12,461 shares of company stock worth $129,689. Company insiders own 1.82% of the company’s stock.

Institutional Investors Weigh In On AVITA Medical

A number of large investors have recently bought and sold shares of RCEL. Huntington National Bank bought a new stake in AVITA Medical during the 3rd quarter worth approximately $32,000. BNP Paribas Financial Markets bought a new stake in AVITA Medical during the 4th quarter worth approximately $38,000. FMR LLC grew its position in AVITA Medical by 126.9% during the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after acquiring an additional 2,376 shares during 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. Finally, Russell Investments Group Ltd. grew its position in AVITA Medical by 48.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company’s stock worth $92,000 after acquiring an additional 2,324 shares during the last quarter. 27.66% of the stock is currently owned by institutional investors.

About AVITA Medical

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.