Avita Medical Inc. (NASDAQ:RCEL) Receives Average Rating of “Hold” from Analysts

Shares of Avita Medical Inc. (NASDAQ:RCEL) have received an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.25.

Several equities analysts have issued reports on RCEL shares. Weiss Ratings restated a “sell (e+)” rating on shares of Avita Medical in a research note on Wednesday, June 24th. Lake Street Capital upgraded Avita Medical from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.50 to $6.00 in a research report on Friday, May 15th. TD Cowen reissued a “buy” rating on shares of Avita Medical in a report on Tuesday, June 30th. D. Boral Capital reissued a “buy” rating and issued a $10.00 target price on shares of Avita Medical in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Avita Medical from a “sell” rating to a “hold” rating in a research note on Saturday.

Avita Medical Stock Performance

RCEL stock traded down $0.14 during midday trading on Tuesday, reaching $5.05. 90,198 shares of the company were exchanged, compared to its average volume of 256,473. The company has a market cap of $155.41 million, a price-to-earnings ratio of -3.22 and a beta of 1.86. Avita Medical has a 1-year low of $3.22 and a 1-year high of $7.12. The stock’s 50-day simple moving average is $4.28 and its 200 day simple moving average is $4.20.

Avita Medical (NASDAQ:RCEL) last issued its earnings results on Thursday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The company had revenue of $19.25 million during the quarter, compared to analyst estimates of $18.30 million. On average, research analysts anticipate that Avita Medical will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Avita Medical

In other Avita Medical news, Director Joseph Fralin Woody bought 10,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $41,900.00. Following the completion of the transaction, the director owned 102,761 shares in the company, valued at approximately $430,568.59. The trade was a 10.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 37,200 shares of company stock valued at $155,080 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Avita Medical

Large investors have recently bought and sold shares of the business. Deutsche Bank AG increased 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 purchasing an additional 7,352 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Avita Medical by 122.2% during the fourth quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock worth $28,000 after buying an additional 4,425 shares during the period. Aristides Capital LLC purchased a new position in shares of Avita Medical during the fourth quarter worth about $48,000. R Squared Ltd purchased a new position in shares of Avita Medical during the first quarter worth about $57,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Avita Medical in the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.