Avita Medical’s (RCEL) “Buy” Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Avita Medical (NASDAQ:RCEL) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

Other analysts have also issued reports about the company. Lake Street Capital lifted 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. Northland Securities initiated coverage on Avita Medical in a report on Thursday, March 5th. They issued an “outperform” rating and a $10.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a report on Friday, March 27th. Finally, Zacks Research raised Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Avita Medical presently has a consensus rating of “Hold” and an average target price of $6.63.

Avita Medical Stock Performance

Shares of NASDAQ RCEL opened at $4.10 on Wednesday. Avita Medical has a 1 year low of $3.22 and a 1 year high of $10.29. The firm has a market cap of $125.58 million, a price-to-earnings ratio of -2.34 and a beta of 1.89. The stock’s 50-day simple moving average is $4.31 and its 200-day simple moving average is $4.14.

Institutional Trading of Avita Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aristides Capital LLC bought a new stake in Avita Medical in the fourth quarter valued at about $48,000. Jain Global LLC acquired a new position in Avita Medical in the fourth quarter valued at approximately $83,000. Russell Investments Group Ltd. boosted its stake in Avita Medical by 122.2% in the fourth quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock valued at $28,000 after acquiring an additional 4,425 shares during the period. Wells Fargo & Company MN boosted its stake in Avita Medical by 98.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,832 shares of the company’s stock valued at $65,000 after acquiring an additional 9,345 shares during the period. Finally, Deutsche Bank AG boosted its stake in Avita Medical by 1,351.5% in the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after acquiring an additional 7,352 shares during the period. 27.66% of the stock is owned by institutional investors.

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.