Avita Medical Inc. (NASDAQ:RCEL) Given Average Rating of “Hold” by Brokerages

Shares of Avita Medical Inc. (NASDAQ:RCEL) have received a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $10.80.

A number of research firms recently commented on RCEL. Wall Street Zen downgraded Avita Medical from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. BTIG Research cut 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 report on Friday, August 8th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 target price on shares of Avita Medical in a report on Friday, October 17th. Lake Street Capital lowered Avita Medical from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.00 to $4.00 in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Avita Medical in a research note on Wednesday, October 8th.

Avita Medical Price Performance

Shares of NASDAQ RCEL opened at $3.96 on Thursday. The company has a market cap of $105.42 million, a P/E ratio of -2.01 and a beta of 1.64. Avita Medical has a 1 year low of $3.60 and a 1 year high of $14.16. The firm has a 50-day simple moving average of $5.00 and a two-hundred day simple moving average of $6.08.

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

Insider Activity at Avita Medical

In related news, Director Robert Mcnamara acquired 10,000 shares of Avita Medical stock in a transaction dated Thursday, August 28th. The shares were acquired at an average cost of $4.50 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the director owned 86,771 shares in the company, valued at approximately $390,469.50. The trade was a 13.03% increase in their ownership of the stock. The transaction 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 valued at $113,660 in the last three months. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Avita Medical

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new stake in Avita Medical during the 3rd quarter worth approximately $32,000. CWM LLC increased its holdings in Avita Medical by 1,099.5% during the 1st quarter. CWM LLC now owns 4,918 shares of the company’s stock valued at $40,000 after acquiring an additional 4,508 shares in the last quarter. GAMMA Investing LLC lifted its stake in Avita Medical by 688.9% in the 1st quarter. GAMMA Investing LLC now owns 6,374 shares of the company’s stock valued at $52,000 after buying an additional 5,566 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Avita Medical in the 1st quarter valued at about $53,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Avita Medical during the second quarter valued at approximately $58,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

About Avita Medical

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.