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

Shares of Avita Medical Inc. (NASDAQ:RCEL) have been given an average recommendation of “Reduce” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.50.

RCEL has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Avita Medical in a report on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Avita Medical in a research report on Friday, November 7th. Zacks Research downgraded Avita Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Lake Street Capital cut Avita Medical from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.00 to $4.00 in a research note on Friday, October 17th. Finally, BTIG Research downgraded Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price target for the company. in a report on Friday, August 8th.

Avita Medical Stock Up 0.3%

Shares of NASDAQ:RCEL opened at $3.75 on Monday. Avita Medical has a fifty-two week low of $3.35 and a fifty-two week high of $14.16. The firm’s 50 day moving average price is $4.67 and its 200 day moving average price is $5.38. The stock has a market cap of $114.34 million, a price-to-earnings ratio of -2.07 and a beta of 1.58.

Avita Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.03). Avita Medical had a negative return on equity of 632.62% and a negative net margin of 67.07%.The firm had revenue of $17.06 million for the quarter, compared to analyst estimates of $29.39 million. Avita Medical has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Avita Medical will post -0.95 EPS for the current year.

Insider Activity

In related news, Director Robert Mcnamara bought 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 86,771 shares of the company’s stock, valued at approximately $390,469.50. This represents a 13.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 22,000 shares of company stock valued at $104,040. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Avita Medical

Several institutional investors and hedge funds have recently bought and sold shares of RCEL. Bank of New York Mellon Corp grew its position in Avita Medical by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 55,141 shares of the company’s stock worth $449,000 after purchasing an additional 1,924 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Avita Medical by 8.8% during the second quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock worth $223,000 after buying an additional 3,393 shares during the period. CWM LLC grew its holdings in shares of Avita Medical by 1,099.5% during the first quarter. CWM LLC now owns 4,918 shares of the company’s stock worth $40,000 after buying an additional 4,508 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Avita Medical during the third quarter worth about $32,000. Finally, Meeder Asset Management Inc. acquired a new position in Avita Medical in the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.