AVITA Medical (NASDAQ:RCEL) Earns Overweight Rating from Cantor Fitzgerald

AVITA Medical (NASDAQ:RCEL)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They currently have a $21.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 78.72% from the company’s current price.

RCEL has been the topic of several other reports. D. Boral Capital initiated coverage on AVITA Medical in a research note on Tuesday. They issued a “buy” rating and a $25.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th.

AVITA Medical Trading Down 0.2 %

AVITA Medical stock opened at $11.75 on Tuesday. The business has a 50 day moving average price of $11.95 and a two-hundred day moving average price of $10.24. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. AVITA Medical has a 12 month low of $7.51 and a 12 month high of $18.93. The stock has a market cap of $308.06 million, a price-to-earnings ratio of -5.27 and a beta of 1.60.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share 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 business had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. As a group, equities analysts forecast that AVITA Medical will post -2.35 EPS for the current year.

Institutional Investors Weigh In On AVITA Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of RCEL. Essex Investment Management Co. LLC acquired a new stake in shares of AVITA Medical in the third quarter valued at $2,477,000. The Manufacturers Life Insurance Company acquired a new stake in AVITA Medical in the 2nd quarter valued at about $86,000. Quest Partners LLC raised its stake in shares of AVITA Medical by 269.4% in the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after acquiring an additional 5,484 shares during the last quarter. Rhumbline Advisers lifted its position in shares of AVITA Medical by 13.9% during the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock worth $289,000 after purchasing an additional 4,463 shares in the last quarter. Finally, Huntington National Bank bought a new stake in shares of AVITA Medical during the third quarter valued at approximately $32,000. 27.66% of the stock is owned by institutional investors and hedge funds.

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.