AVITA Medical’s (RCEL) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of AVITA Medical (NASDAQ:RCEL) in a research note issued to investors on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $21.00 price objective on the stock.

Several other research firms have also weighed in on RCEL. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital started coverage on shares of AVITA Medical in a research report on Tuesday. They set a “buy” rating and a $25.00 price target on the stock.

AVITA Medical Stock Performance

Shares of RCEL stock opened at $13.17 on Tuesday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. The firm has a market capitalization of $345.29 million, a price-to-earnings ratio of -5.91 and a beta of 1.60. AVITA Medical has a one year low of $7.51 and a one year high of $18.93. The company has a 50 day moving average price of $12.10 and a 200 day moving average price of $10.31.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. The firm had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. During the same quarter in the previous year, the company earned ($0.34) earnings per share. Sell-side analysts anticipate that AVITA Medical will post -2.35 EPS for the current year.

Institutional Investors Weigh In On AVITA Medical

A number of large investors have recently modified their holdings of RCEL. Huntington National Bank purchased a new position in AVITA Medical in the 3rd quarter worth approximately $32,000. FMR LLC lifted its position in shares of AVITA Medical by 126.9% during the third quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after purchasing an additional 2,376 shares in the last quarter. Quest Partners LLC lifted its position in shares of AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after purchasing an additional 5,484 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of AVITA Medical in the second quarter valued at $86,000. Finally, Rhumbline Advisers grew its holdings in AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after purchasing an additional 4,463 shares in the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.