AVITA Medical (NASDAQ:RCEL) Research Coverage Started at D. Boral Capital

D. Boral Capital began coverage on shares of AVITA Medical (NASDAQ:RCEL) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

Separately, Piper Sandler restated a “neutral” rating and set a $12.00 target price (up previously from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th.

AVITA Medical Price Performance

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

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The firm had revenue of $19.55 million for the quarter, compared to analysts’ expectations of $19.65 million. During the same period last year, the company posted ($0.34) earnings per share. Analysts expect that AVITA Medical will post -2.35 EPS for the current fiscal year.

Institutional Trading of AVITA Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank bought a new stake in AVITA Medical during the third quarter valued at about $32,000. FMR LLC boosted its holdings in shares of AVITA Medical by 126.9% in the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock valued at $46,000 after buying an additional 2,376 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of AVITA Medical by 269.4% in the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after buying 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 2nd quarter worth approximately $86,000. Finally, Rhumbline Advisers raised its stake in shares of AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock worth $289,000 after acquiring an additional 4,463 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors.

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.