Avita Medical Inc. (NASDAQ:RCEL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Avita Medical Inc. (NASDAQ:RCEL) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.50.

RCEL has been the topic of several analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $10.00 target price on shares of Avita Medical in a research note on Monday, January 26th. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. Finally, Lake Street Capital raised their target price on Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th.

Avita Medical Stock Up 1.1%

RCEL stock opened at $4.41 on Friday. The business has a 50 day moving average of $3.66 and a 200 day moving average of $4.41. The firm has a market cap of $134.46 million, a PE ratio of -2.44 and a beta of 1.70. Avita Medical has a twelve month low of $3.22 and a twelve month high of $11.25.

Avita Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.03). The firm had revenue of $17.06 million during the quarter, compared to analysts’ expectations of $29.39 million. On average, research analysts expect that Avita Medical will post -0.95 earnings per share for the current fiscal year.

Institutional Trading of Avita Medical

Large investors have recently added to or reduced their stakes in the business. Divisadero Street Capital Management LP purchased a new stake in Avita Medical during the third quarter valued at approximately $511,000. Brooklyn Investment Group grew its position in shares of Avita Medical by 48,965.5% during the 3rd quarter. Brooklyn Investment Group now owns 58,388 shares of the company’s stock valued at $298,000 after acquiring an additional 58,269 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Avita Medical by 213.8% in the 3rd 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. Strs Ohio increased its stake in shares of Avita Medical by 233.6% in the 3rd quarter. Strs Ohio now owns 47,700 shares of the company’s stock worth $244,000 after purchasing an additional 33,400 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new position in Avita Medical in the 3rd quarter worth $32,000. 27.66% of the stock is currently owned by institutional investors.

About Avita Medical

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.