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

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

A number of analysts have commented on RCEL shares. D. Boral Capital reissued a “buy” rating and issued a $10.00 target price on shares of Avita Medical in a report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a report on Monday, December 29th. Zacks Research raised Avita Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Finally, Lake Street Capital lifted their price target on shares of Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research note on Friday, January 16th.

Avita Medical Stock Up 11.1%

Shares of RCEL opened at $5.39 on Wednesday. Avita Medical has a twelve month low of $3.22 and a twelve month high of $10.29. The company has a market capitalization of $165.10 million, a P/E ratio of -3.08 and a beta of 1.78. The firm has a 50 day moving average of $3.89 and a 200 day moving average of $4.26.

Institutional Investors Weigh In On Avita Medical

A number of hedge funds have recently added to or reduced their stakes in RCEL. Deutsche Bank AG grew its holdings in shares of Avita Medical by 1,351.5% in the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock worth $27,000 after acquiring an additional 7,352 shares during the period. Russell Investments Group Ltd. boosted its position in Avita Medical by 122.2% in the fourth quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock worth $28,000 after purchasing an additional 4,425 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Avita Medical during the 3rd quarter valued at about $32,000. Aristides Capital LLC purchased a new stake in shares of Avita Medical during the 4th quarter valued at about $48,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Avita Medical in the 2nd quarter worth approximately $58,000. 27.66% of the stock is currently owned by hedge funds and other 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.