D. Boral Capital Cuts AVITA Medical (NASDAQ:RCEL) Price Target to $22.00

AVITA Medical (NASDAQ:RCEL) had its price objective reduced by D. Boral Capital from $25.00 to $22.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on RCEL. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Lake Street Capital reduced their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

AVITA Medical Stock Performance

Shares of RCEL stock opened at $9.75 on Thursday. The company has a market capitalization of $255.65 million, a price-to-earnings ratio of -4.08 and a beta of 1.55. AVITA Medical has a 1-year low of $7.51 and a 1-year high of $18.93. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. The stock’s fifty day simple moving average is $10.40 and its 200-day simple moving average is $10.65.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). The firm had revenue of $18.41 million for the quarter, compared to analyst estimates of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. On average, sell-side analysts predict that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Mcnamara purchased 10,000 shares of AVITA Medical stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the transaction, the director now directly owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. This represents a 27.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 12,461 shares of company stock valued at $129,689 over the last quarter. Insiders own 1.82% of the company’s stock.

Institutional Trading of AVITA Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Delta Investment Management LLC lifted its position in shares of AVITA Medical by 263.7% during the 4th quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock worth $672,000 after purchasing an additional 38,042 shares during the last quarter. Millennium Management LLC acquired a new position in shares of AVITA Medical during the 4th quarter worth about $426,000. Deutsche Bank AG lifted its position in shares of AVITA Medical by 78.9% during the 4th quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock worth $292,000 after purchasing an additional 10,063 shares during the last quarter. Bank of America Corp DE lifted its position in shares of AVITA Medical by 16.2% during the 4th quarter. Bank of America Corp DE now owns 38,121 shares of the company’s stock worth $488,000 after purchasing an additional 5,324 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of AVITA Medical during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

About AVITA Medical

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.