Avita Medical Inc. (NASDAQ:RCEL – Get Free Report) has earned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.25.
A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Wednesday, June 24th. TD Cowen restated a “buy” rating on shares of Avita Medical in a report on Tuesday, June 30th. Lake Street Capital upgraded shares of Avita Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.50 to $6.00 in a report on Friday, May 15th. Wall Street Zen cut shares of Avita Medical from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of Avita Medical in a report on Wednesday, April 8th.
Read Our Latest Report on RCEL
Avita Medical Stock Performance
Avita Medical (NASDAQ:RCEL – Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.30 million. On average, analysts anticipate that Avita Medical will post -1.09 EPS for the current fiscal year.
Insider Activity
In related news, Director Joseph Fralin Woody purchased 10,000 shares of Avita Medical stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $41,900.00. Following the transaction, the director directly owned 102,761 shares of the company’s stock, valued at approximately $430,568.59. This trade represents a 10.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 37,200 shares of company stock valued at $155,080. 2.24% of the stock is owned by company insiders.
Institutional Investors Weigh In On Avita Medical
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its stake in Avita Medical by 1,351.5% in the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after buying an additional 7,352 shares during the period. Russell Investments Group Ltd. grew its position in shares of Avita Medical by 122.2% during the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock worth $28,000 after buying an additional 4,425 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Avita Medical during the 2nd quarter worth about $58,000. Aristides Capital LLC bought a new stake in shares of Avita Medical in the 4th quarter valued at about $48,000. Finally, Strs Ohio bought a new stake in shares of Avita Medical in the 1st quarter valued at about $116,000. Institutional investors own 27.66% of the company’s stock.
Avita Medical Company Profile
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.
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