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

Cantor Fitzgerald restated their overweight rating on shares of AVITA Medical (NASDAQ:RCEL) in a report issued on Tuesday,Benzinga reports. Cantor Fitzgerald currently has a $21.00 price target on the stock.

A number of other research analysts also recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital initiated coverage on shares of AVITA Medical in a research note on Tuesday. They set a “buy” rating and a $25.00 price target on the stock.

AVITA Medical Stock Performance

Shares of RCEL opened at $12.91 on Tuesday. AVITA Medical has a 1 year low of $7.51 and a 1 year high of $18.93. The company’s 50 day simple moving average is $12.00 and its 200 day simple moving average is $10.27. The company has a market capitalization of $338.47 million, a price-to-earnings ratio of -5.79 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 issued 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). The business had revenue of $19.55 million for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned ($0.34) EPS. On average, sell-side analysts predict that AVITA Medical will post -2.35 EPS for the current year.

Institutional Trading of AVITA Medical

A number of institutional investors and hedge funds have recently bought and sold shares of RCEL. Essex Investment Management Co. LLC purchased a new stake in AVITA Medical during the third quarter worth approximately $2,477,000. Barclays PLC boosted its position in AVITA Medical by 340.0% during the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after purchasing an additional 28,979 shares during the period. Jane Street Group LLC increased its holdings in AVITA Medical by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after purchasing an additional 22,032 shares in the last quarter. State Street Corp raised its position in AVITA Medical by 2.4% in 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 during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of AVITA Medical during the second quarter worth about $86,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

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.