AVITA Medical (NASDAQ:RCEL) Stock Price Up 1.8%

Shares of AVITA Medical, Inc. (NASDAQ:RCEL) shot up 1.8% during trading on Wednesday . The company traded as high as $9.62 and last traded at $9.57. 114,864 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 204,971 shares. The stock had previously closed at $9.40.

Analysts Set New Price Targets

RCEL has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down previously from $21.00) on shares of AVITA Medical in a research report on Tuesday, May 14th.

AVITA Medical Trading Up 1.8 %

The company has a market cap of $246.91 million, a P/E ratio of -5.44 and a beta of 1.55. The company has a current ratio of 5.29, a quick ratio of 4.81 and a debt-to-equity ratio of 1.71. The stock’s 50 day moving average is $9.17 and its 200-day moving average is $10.60.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). AVITA Medical had a negative net margin of 92.04% and a negative return on equity of 118.27%. The firm had revenue of $15.20 million for the quarter, compared to analysts’ expectations of $15.04 million. During the same quarter in the previous year, the company earned ($0.41) EPS. Research analysts anticipate that AVITA Medical, Inc. will post -2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC bought a new position in shares of AVITA Medical in the 1st quarter worth approximately $3,874,000. Hussman Strategic Advisors Inc. purchased a new position in shares of AVITA Medical during the 1st quarter worth $673,000. CenterBook Partners LP bought a new stake in shares of AVITA Medical during the 4th quarter valued at $234,000. Aigen Investment Management LP bought a new stake in shares of AVITA Medical during the 4th quarter valued at $220,000. Finally, Vanguard Group Inc. increased its stake in shares of AVITA Medical by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company’s stock worth $22,572,000 after purchasing an additional 15,356 shares in the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

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.