Analysts Set Avita Medical Inc. (NASDAQ:RCEL) PT at $10.80

Shares of Avita Medical Inc. (NASDAQ:RCEL) have earned an average recommendation of “Reduce” from the seven analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.80.

RCEL has been the subject of several recent research reports. Zacks Research downgraded shares of Avita Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. D. Boral Capital restated a “buy” rating and set a $14.00 target price on shares of Avita Medical in a report on Friday, October 17th. Wall Street Zen cut shares of Avita Medical from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avita Medical in a research note on Wednesday, October 8th. Finally, BTIG Research cut shares of Avita Medical from a “neutral” rating to a “sell” rating and set a $3.00 price target on the stock. in a research note on Friday, August 8th.

Insider Activity

In related news, Director Robert Mcnamara bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were acquired at an average cost of $4.50 per share, with a total value of $45,000.00. Following the completion of the transaction, the director owned 86,771 shares of the company’s stock, valued at approximately $390,469.50. The trade was a 13.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 24,000 shares of company stock valued at $113,660 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avita Medical

Several hedge funds have recently modified their holdings of RCEL. Farther Finance Advisors LLC acquired a new stake in shares of Avita Medical in the third quarter worth approximately $32,000. CWM LLC boosted its position in shares of Avita Medical by 1,099.5% in the first quarter. CWM LLC now owns 4,918 shares of the company’s stock worth $40,000 after acquiring an additional 4,508 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Avita Medical by 688.9% in the first quarter. GAMMA Investing LLC now owns 6,374 shares of the company’s stock worth $52,000 after acquiring an additional 5,566 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Avita Medical in the first quarter worth approximately $53,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Avita Medical in the second quarter worth approximately $58,000. 27.66% of the stock is owned by institutional investors and hedge funds.

Avita Medical Trading Down 4.5%

NASDAQ:RCEL opened at $3.79 on Thursday. The firm has a 50-day moving average price of $4.89 and a two-hundred day moving average price of $5.97. Avita Medical has a twelve month low of $3.60 and a twelve month high of $14.16. The company has a market capitalization of $100.89 million, a P/E ratio of -1.92 and a beta of 1.64.

Avita Medical (NASDAQ:RCEL) last posted its earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.12). Avita Medical had a negative net margin of 68.87% and a negative return on equity of 632.62%. The business had revenue of $18.42 million for the quarter, compared to analysts’ expectations of $34.27 million. Avita Medical has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Avita Medical will post -0.95 earnings per share for the current year.

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.