Avita Medical (NASDAQ:RCEL) Announces Earnings Results

Avita Medical (NASDAQ:RCEL) issued its quarterly earnings results on Thursday. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03), Zacks reports. The business had revenue of $17.06 million for the quarter, compared to analyst estimates of $29.39 million. Avita Medical had a negative return on equity of 632.62% and a negative net margin of 67.07%. Avita Medical updated its FY 2025 guidance to EPS.

Avita Medical Trading Up 10.9%

Shares of RCEL traded up $0.37 during trading hours on Friday, reaching $3.77. The stock had a trading volume of 260,082 shares, compared to its average volume of 263,836. The firm has a 50-day simple moving average of $4.72 and a 200 day simple moving average of $5.65. Avita Medical has a 12 month low of $3.35 and a 12 month high of $14.16. The company has a market capitalization of $100.36 million, a price-to-earnings ratio of -2.08 and a beta of 1.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research cut Avita Medical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Lake Street Capital cut Avita Medical from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.00 to $4.00 in a report on Friday, October 17th. BTIG Research lowered shares of Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price objective for the company. in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avita Medical in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Avita Medical from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Avita Medical has an average rating of “Reduce” and an average target price of $10.80.

Insiders Place Their Bets

In other Avita Medical news, Director Robert Mcnamara acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were purchased at an average cost of $4.50 per share, with a total value of $45,000.00. Following the completion of the purchase, the director owned 86,771 shares of the company’s stock, valued at approximately $390,469.50. This represents a 13.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 24,000 shares of company stock worth $113,660 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Avita Medical

Several hedge funds and other institutional investors have recently made changes to their positions in RCEL. AQR Capital Management LLC bought a new position in Avita Medical in the 1st quarter valued at about $799,000. Jacobs Levy Equity Management Inc. bought a new stake in Avita Medical during the 1st quarter worth approximately $374,000. Jane Street Group LLC raised its stake in shares of Avita Medical by 20.4% in the first quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock worth $519,000 after purchasing an additional 10,789 shares during the last quarter. Strs Ohio purchased a new stake in shares of Avita Medical in the first quarter worth approximately $116,000. Finally, Rhumbline Advisers lifted its holdings in shares of Avita Medical by 8.8% in the second quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock valued at $223,000 after purchasing an additional 3,393 shares in the last quarter. 27.66% of the stock is owned by 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.