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

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

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

Avita Medical Price Performance

Shares of Avita Medical stock opened at $3.96 on Tuesday. Avita Medical has a 1 year low of $3.60 and a 1 year high of $14.16. The firm’s 50-day moving average is $5.00 and its two-hundred day moving average is $6.08. The stock has a market cap of $105.42 million, a price-to-earnings ratio of -2.01 and a beta of 1.64.

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

Insider Activity at Avita Medical

In other Avita Medical news, Director Robert Mcnamara purchased 10,000 shares of Avita Medical stock in a transaction on Thursday, August 28th. The stock was bought at an average cost of $4.50 per share, with a total value of $45,000.00. Following the transaction, the director owned 86,771 shares of the company’s stock, valued at $390,469.50. This represents a 13.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 24,000 shares of company stock valued at $113,660. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Avita Medical

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new position in Avita Medical during the 3rd quarter worth approximately $32,000. Curi Capital LLC acquired a new stake in shares of Avita Medical during the 2nd quarter worth approximately $100,000. Bridgeway Capital Management LLC acquired a new stake in shares of Avita Medical during the 2nd quarter worth approximately $199,000. Bank of America Corp DE grew its stake in shares of Avita Medical by 49.7% during the 2nd quarter. Bank of America Corp DE now owns 62,551 shares of the company’s stock worth $331,000 after purchasing an additional 20,767 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Avita Medical by 36.1% during the 2nd quarter. Jane Street Group LLC now owns 86,730 shares of the company’s stock worth $459,000 after purchasing an additional 22,986 shares during the period. 27.66% of the stock is owned by hedge funds and other institutional investors.

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.