Avita Medical Inc. (NASDAQ:RCEL) Receives $11.60 Average PT from Analysts

Shares of Avita Medical Inc. (NASDAQ:RCEL) have been given an average rating of “Hold” by the five brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.60.

RCEL has been the topic of a number of recent analyst reports. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of Avita Medical in a research report on Monday, September 15th. Wall Street Zen downgraded Avita Medical from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. BTIG Research downgraded Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price objective for the company. in a research report on Friday, August 8th. Finally, Lake Street Capital lowered their target price on Avita Medical from $14.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 11th.

Insider Activity

In related news, Director Robert Mcnamara acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was acquired at an average price of $4.50 per share, for a total transaction of $45,000.00. Following the purchase, the director owned 86,771 shares of the company’s stock, valued at $390,469.50. This represents a 13.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders bought 24,000 shares of company stock valued at $113,660. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Avita Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in Avita Medical by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 55,141 shares of the company’s stock worth $449,000 after buying an additional 1,924 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Avita Medical by 16.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,181 shares of the company’s stock valued at $148,000 after buying an additional 2,564 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Avita Medical during the fourth quarter worth $38,000. Ameriprise Financial Inc. boosted its position in Avita Medical by 7.4% during the fourth quarter. Ameriprise Financial Inc. now owns 47,593 shares of the company’s stock worth $609,000 after purchasing an additional 3,269 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Avita Medical by 8.8% in the second quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock worth $223,000 after acquiring an additional 3,393 shares during the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

Avita Medical Stock Performance

Shares of RCEL opened at $5.47 on Friday. The business’s 50-day moving average is $5.09 and its two-hundred day moving average is $6.44. The company has a market capitalization of $145.61 million, a P/E ratio of -2.78 and a beta of 1.64. Avita Medical has a fifty-two week low of $3.60 and a fifty-two week high of $14.16.

Avita Medical (NASDAQ:RCEL) last issued its earnings results on Thursday, August 7th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.12). The company had revenue of $18.42 million during the quarter, compared to analysts’ expectations of $34.27 million. Avita Medical had a negative return on equity of 632.62% and a negative net margin of 68.87%. Avita Medical has set its FY 2025 guidance at EPS. Analysts forecast that Avita Medical will post -0.95 EPS for the current year.

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.