AVITA Medical (RCEL) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for AVITA Medical (NASDAQ: RCEL):

• 6/9/2022 – AVITA Medical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AVITA Medical Inc. is a regenerative medicine company. It engages in developing and commercializing a technology platform which enables point-of-care autologous skin restoration for multiple unmet needs. AVITA Medical Inc., formerly known as AVITA Therapeutics Inc., is based in VALENCIA, Calif. “
• 5/26/2022 – AVITA Medical was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.00 price target on the stock. According to Zacks, “AVITA Medical Inc. is a regenerative medicine company. It engages in developing and commercializing a technology platform which enables point-of-care autologous skin restoration for multiple unmet needs. AVITA Medical Inc., formerly known as AVITA Therapeutics Inc., is based in VALENCIA, Calif. “
• 5/25/2022 – AVITA Medical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AVITA Medical Inc. is a regenerative medicine company. It engages in developing and commercializing a technology platform which enables point-of-care autologous skin restoration for multiple unmet needs. AVITA Medical Inc., formerly known as AVITA Therapeutics Inc., is based in VALENCIA, Calif. “
• 5/19/2022 – AVITA Medical was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.25 price target on the stock. According to Zacks, “AVITA Medical Inc. is a regenerative medicine company. It engages in developing and commercializing a technology platform which enables point-of-care autologous skin restoration for multiple unmet needs. AVITA Medical Inc., formerly known as AVITA Therapeutics Inc., is based in VALENCIA, Calif. “

Shares of AVITA Medical stock opened at $5.86 on Thursday. AVITA Medical, Inc. has a 52-week low of $5.06 and a 52-week high of $22.49. The stock’s 50-day simple moving average is $6.53 and its 200 day simple moving average is $9.06. The stock has a market capitalization of $146.27 million, a P/E ratio of -5.10 and a beta of 1.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.68 and a current ratio of 13.96.

AVITA Medical (NASDAQ:RCEL – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). AVITA Medical had a negative net margin of 89.96% and a negative return on equity of 26.41%. The firm had revenue of $7.54 million during the quarter, compared to the consensus estimate of $6.53 million. Equities research analysts forecast that AVITA Medical, Inc. will post -1.44 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Walleye Capital LLC purchased a new position in shares of AVITA Medical during the first quarter worth about $135,000. Engineers Gate Manager LP purchased a new position in shares of AVITA Medical during the first quarter worth about $100,000. Granahan Investment Management LLC grew its holdings in shares of AVITA Medical by 18.6% during the first quarter. Granahan Investment Management LLC now owns 25,782 shares of the company’s stock worth $219,000 after purchasing an additional 4,050 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of AVITA Medical during the first quarter worth about $1,826,000. Finally, Vanguard Group Inc. grew its holdings in shares of AVITA Medical by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,276,977 shares of the company’s stock worth $10,830,000 after purchasing an additional 6,467 shares in the last quarter. Hedge funds and other institutional investors own 29.96% of the company’s stock.

AVITA Medical Inc operates as a commercial-stage regenerative tissue company in the United States, Australia, and the United Kingdom. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications, including vitiligo.

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