Avita Medical Inc. (NASDAQ:RCEL – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $10.20.
Several research analysts have recently weighed in on the stock. TD Cowen lifted their price target on shares of Avita Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Avita Medical from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. BTIG Research raised their target price on Avita Medical from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Wednesday, June 24th. Finally, Lake Street Capital raised Avita Medical from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.50 to $6.00 in a report on Friday, May 15th.
Read Our Latest Research Report on Avita Medical
Insider Activity at Avita Medical
Institutional Investors Weigh In On Avita Medical
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Avita Medical during the second quarter valued at approximately $2,333,000. Geode Capital Management LLC increased its stake in shares of Avita Medical by 44.6% in the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock worth $1,654,000 after purchasing an additional 147,722 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Avita Medical by 213.8% in the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after purchasing an additional 80,404 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Avita Medical in the first quarter worth $799,000. Finally, NewEdge Advisors LLC raised its position in shares of Avita Medical by 8,588.5% during the 1st quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock valued at $321,000 after purchasing an additional 85,885 shares during the period. 27.66% of the stock is owned by hedge funds and other institutional investors.
Avita Medical Stock Down 0.3%
Shares of NASDAQ:RCEL opened at $10.06 on Wednesday. The firm’s 50 day moving average price is $5.40 and its 200-day moving average price is $4.73. Avita Medical has a twelve month low of $3.22 and a twelve month high of $10.41. The stock has a market capitalization of $309.65 million, a PE ratio of -6.99 and a beta of 1.86.
Avita Medical (NASDAQ:RCEL – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $21.70 million for the quarter, compared to the consensus estimate of $20.25 million. Analysts expect that Avita Medical will post -0.98 earnings per share for the current fiscal year.
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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