AVITA Medical (NASDAQ:RCEL) Trading Down 2.5%

Shares of AVITA Medical, Inc. (NASDAQ:RCEL) fell 2.5% during trading on Monday . The stock traded as low as $7.67 and last traded at $7.72. 220,073 shares were traded during trading, a decline of 4% from the average session volume of 228,228 shares. The stock had previously closed at $7.92.

Analyst Upgrades and Downgrades

Several research firms have commented on RCEL. Piper Sandler reissued a “neutral” rating and set a $9.00 price target (down from $21.00) on shares of AVITA Medical in a research note on Tuesday, May 14th. BTIG Research downgraded shares of AVITA Medical from a “buy” rating to a “neutral” rating in a research note on Thursday, April 11th. Finally, Cantor Fitzgerald decreased their price target on shares of AVITA Medical from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AVITA Medical presently has an average rating of “Moderate Buy” and a consensus price target of $24.25.

AVITA Medical Trading Down 2.5 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 7.25 and a quick ratio of 6.64. The firm’s 50 day moving average is $8.55 and its 200 day moving average is $12.80. The company has a market capitalization of $199.18 million, a PE ratio of -4.39 and a beta of 1.55.

AVITA Medical (NASDAQ:RCEL) last issued its earnings results on Monday, May 13th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.47). AVITA Medical had a negative return on equity of 84.07% and a negative net margin of 88.41%. The firm had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.08 million. During the same period in the previous year, the firm earned ($0.37) earnings per share. As a group, equities analysts predict that AVITA Medical, Inc. will post -1.78 EPS for the current year.

Institutional Trading of AVITA Medical

Several large investors have recently added to or reduced their stakes in RCEL. Financial Advisory Group boosted its holdings in AVITA Medical by 5.3% in the third quarter. Financial Advisory Group now owns 18,021 shares of the company’s stock valued at $263,000 after acquiring an additional 910 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AVITA Medical by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,360,696 shares of the company’s stock valued at $19,880,000 after acquiring an additional 11,062 shares in the last quarter. HighMark Wealth Management LLC bought a new stake in AVITA Medical in the fourth quarter valued at $27,000. Strs Ohio boosted its holdings in AVITA Medical by 11.4% in the fourth quarter. Strs Ohio now owns 41,100 shares of the company’s stock valued at $563,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in AVITA Medical in the fourth quarter valued at $220,000. Institutional investors 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.