Avita Medical Inc. (NASDAQ:RCEL) Given Average Rating of “Hold” by Analysts

Shares of Avita Medical Inc. (NASDAQ:RCEL) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research 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 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

A number of equities research analysts have weighed in on RCEL shares. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a report on Thursday, November 20th. Lake Street Capital cut Avita Medical from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.00 to $4.00 in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research report on Monday. Zacks Research cut Avita Medical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, D. Boral Capital reissued a “buy” rating and issued a $14.00 target price on shares of Avita Medical in a research note on Friday, November 7th.

Institutional Trading of Avita Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Avita Medical in the third quarter worth about $32,000. The Manufacturers Life Insurance Company bought a new stake in shares of Avita Medical during the second quarter valued at approximately $58,000. Strs Ohio purchased a new position in Avita Medical in the 1st quarter worth approximately $116,000. PharVision Advisers LLC purchased a new position in Avita Medical in the 2nd quarter worth approximately $87,000. Finally, Curi Capital LLC bought a new position in Avita Medical in the 2nd quarter valued at approximately $100,000. 27.66% of the stock is currently owned by institutional investors.

Avita Medical Trading Down 2.1%

Shares of Avita Medical stock opened at $3.33 on Friday. Avita Medical has a 12 month low of $3.25 and a 12 month high of $14.16. The firm has a market capitalization of $101.53 million, a P/E ratio of -1.84 and a beta of 1.66. The business has a fifty day simple moving average of $3.96 and a two-hundred day simple moving average of $4.83.

Avita Medical (NASDAQ:RCEL) last released its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The business had revenue of $17.06 million during the quarter, compared to analysts’ expectations of $29.39 million. Avita Medical had a negative return on equity of 632.62% and a negative net margin of 67.07%. Analysts predict that Avita Medical will post -0.95 earnings per share for the current 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.