Avita Medical’s (RCEL) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of Avita Medical (NASDAQ:RCEL) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Lake Street Capital increased their target price on Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a report on Friday, January 16th. BTIG Research raised shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Zacks Research upgraded shares of Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.50.

Avita Medical Stock Performance

NASDAQ RCEL opened at $4.38 on Tuesday. Avita Medical has a 52-week low of $3.22 and a 52-week high of $10.40. The firm’s 50 day moving average price is $3.79 and its 200-day moving average price is $4.27. The company has a market cap of $134.16 million, a PE ratio of -2.50 and a beta of 1.78.

Institutional Investors Weigh In On Avita Medical

A number of hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in shares of Avita Medical during the 3rd quarter worth $32,000. Deutsche Bank AG lifted its holdings in shares of Avita Medical by 1,351.5% during the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after purchasing an additional 7,352 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Avita Medical by 122.2% in the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock valued at $28,000 after purchasing an additional 4,425 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Avita Medical in the 2nd quarter worth about $58,000. Finally, Aristides Capital LLC purchased a new position in Avita Medical in the 4th quarter worth about $48,000. Institutional investors own 27.66% of the company’s stock.

About Avita Medical

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.