Avita Medical (NASDAQ:RCEL) Rating Lowered to “Strong Sell” at Zacks Research

Avita Medical (NASDAQ:RCEL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

RCEL has been the topic of a number of other reports. BTIG Research lowered shares of Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price target on the stock. in a research report on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Avita Medical in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Avita Medical from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of Avita Medical in a research report on Friday, October 17th. Finally, Lake Street Capital cut shares of Avita Medical from a “buy” rating to a “hold” rating and lowered their price target for the company from $8.00 to $4.00 in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Avita Medical presently has a consensus rating of “Reduce” and a consensus price target of $10.80.

Avita Medical Stock Performance

Shares of NASDAQ RCEL opened at $3.96 on Tuesday. The firm has a market cap of $105.42 million, a PE ratio of -2.01 and a beta of 1.64. The firm has a fifty day moving average of $5.00 and a 200 day moving average of $6.08. Avita Medical has a one year low of $3.60 and a one year high of $14.16.

Avita Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.12). The company had revenue of $18.42 million during the quarter, compared to analysts’ expectations of $34.27 million. Avita Medical had a negative return on equity of 632.62% and a negative net margin of 68.87%. Avita Medical has set its FY 2025 guidance at EPS. On average, equities analysts predict that Avita Medical will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Mcnamara bought 10,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were bought at an average price of $4.50 per share, with a total value of $45,000.00. Following the completion of the transaction, the director directly owned 86,771 shares of the company’s stock, valued at $390,469.50. This represents a 13.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 24,000 shares of company stock valued at $113,660 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RCEL. Farther Finance Advisors LLC acquired a new position in Avita Medical in the third quarter valued at about $32,000. CWM LLC lifted its position in Avita Medical by 1,099.5% in the first quarter. CWM LLC now owns 4,918 shares of the company’s stock valued at $40,000 after buying an additional 4,508 shares during the last quarter. GAMMA Investing LLC lifted its position in Avita Medical by 688.9% in the first quarter. GAMMA Investing LLC now owns 6,374 shares of the company’s stock valued at $52,000 after buying an additional 5,566 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Avita Medical in the first quarter valued at about $53,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Avita Medical in the second quarter valued at about $58,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.