D. Boral Capital Begins Coverage on AVITA Medical (NASDAQ:RCEL)

D. Boral Capital started coverage on shares of AVITA Medical (NASDAQ:RCEL) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $25.00 price target on the stock. D. Boral Capital’s price objective would indicate a potential upside of 93.65% from the company’s current price.

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

AVITA Medical Stock Performance

Shares of RCEL stock opened at $12.91 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. The company has a 50 day moving average price of $12.05 and a 200-day moving average price of $10.29. AVITA Medical has a 52 week low of $7.51 and a 52 week high of $18.93. The firm has a market capitalization of $338.47 million, a PE ratio of -5.79 and a beta of 1.60.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of AVITA Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock valued at $6,373,000 after acquiring an additional 8,361 shares during the period. State Street Corp lifted its position in AVITA Medical by 2.4% during the third quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after purchasing an additional 11,997 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in AVITA Medical during the third quarter valued at about $2,477,000. Jane Street Group LLC increased its position in AVITA Medical by 32.7% in the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after buying an additional 22,032 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of AVITA Medical by 340.0% in the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after buying an additional 28,979 shares during the period. 27.66% of the stock is currently owned by institutional investors.

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.