AVITA Medical (NASDAQ:RCEL) Trading Down 2.5%

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

Analyst Ratings Changes

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

AVITA Medical Stock Down 2.5 %

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

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

Institutional Investors Weigh In On AVITA Medical

Several hedge funds and other institutional investors have recently made changes to their positions in RCEL. Financial Advisory Group grew its holdings in shares of AVITA Medical by 5.3% during the 3rd quarter. Financial Advisory Group now owns 18,021 shares of the company’s stock valued at $263,000 after purchasing an additional 910 shares during the last quarter. Vanguard Group Inc. increased its position in AVITA Medical by 0.8% in the 3rd 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 during the period. HighMark Wealth Management LLC acquired a new position in AVITA Medical in the 4th quarter valued at approximately $27,000. Strs Ohio increased its position in AVITA Medical by 11.4% in the 4th quarter. Strs Ohio now owns 41,100 shares of the company’s stock valued at $563,000 after acquiring an additional 4,200 shares during the period. Finally, Aigen Investment Management LP acquired a new position in AVITA Medical in the 4th quarter valued at approximately $220,000. 27.66% of the stock is 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.