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

D. Boral Capital restated their buy rating on shares of Avita Medical (NASDAQ:RCEL) in a research report report published on Tuesday,Benzinga reports. They currently have a $10.00 target price on the stock.

Several other analysts have also commented on RCEL. BTIG Research raised shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Lake Street Capital upped their price target on Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. Finally, Zacks Research raised Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.50.

Avita Medical Trading Up 3.6%

Shares of Avita Medical stock opened at $4.31 on Tuesday. Avita Medical has a 52 week low of $3.22 and a 52 week high of $11.00. The stock has a market cap of $132.02 million, a PE ratio of -2.46 and a beta of 1.78. The company’s 50-day moving average price is $3.76 and its two-hundred day moving average price is $4.27.

Institutional Trading of Avita Medical

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

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.