Analysts Set Avita Medical Inc. (NASDAQ:RCEL) Price Target at $10.80

Avita Medical Inc. (NASDAQ:RCEL) has been given an average recommendation of “Reduce” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $10.80.

A number of brokerages recently weighed in on RCEL. Wall Street Zen downgraded shares of Avita Medical from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Lake Street Capital cut shares of Avita Medical from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.00 to $4.00 in a report on Friday, October 17th. Zacks Research cut shares of Avita Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. BTIG Research downgraded Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 target price on the stock. in a report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Avita Medical in a research note on Friday.

Insider Activity at Avita Medical

In related news, Director Robert Mcnamara purchased 10,000 shares of Avita Medical stock in a transaction dated Thursday, August 28th. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the director directly owned 86,771 shares of the company’s stock, valued at $390,469.50. The trade was a 13.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased 24,000 shares of company stock valued at $113,660 in the last three months. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RCEL. GAMMA Investing LLC grew its holdings in Avita Medical by 688.9% during the first quarter. GAMMA Investing LLC now owns 6,374 shares of the company’s stock valued at $52,000 after purchasing an additional 5,566 shares during the period. Rhumbline Advisers lifted its holdings in Avita Medical by 9.8% in the 1st quarter. Rhumbline Advisers now owns 38,775 shares of the company’s stock worth $316,000 after purchasing an additional 3,448 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Avita Medical by 16.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,181 shares of the company’s stock worth $148,000 after purchasing an additional 2,564 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Avita Medical by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 55,141 shares of the company’s stock worth $449,000 after acquiring an additional 1,924 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Avita Medical by 1,099.5% during the 1st quarter. CWM LLC now owns 4,918 shares of the company’s stock worth $40,000 after acquiring an additional 4,508 shares in the last quarter. Hedge funds and other institutional investors own 27.66% of the company’s stock.

Avita Medical Stock Down 1.2%

Shares of NASDAQ:RCEL opened at $3.97 on Thursday. The company has a 50-day moving average price of $4.93 and a two-hundred day moving average price of $6.02. Avita Medical has a twelve month low of $3.60 and a twelve month high of $14.16. The firm has a market capitalization of $105.68 million, a PE ratio of -2.02 and a beta of 1.64.

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

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.