AVITA Medical (NASDAQ:RCEL) Receives Neutral Rating from Piper Sandler

AVITA Medical (NASDAQ:RCEL)‘s stock had its “neutral” rating restated by analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $12.00 target price on the stock, up from their previous target price of $9.00. Piper Sandler’s price objective would suggest a potential upside of 0.42% from the stock’s previous close.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a report on Friday, August 9th.

AVITA Medical Price Performance

RCEL opened at $11.95 on Friday. The firm has a market capitalization of $310.58 million, a P/E ratio of -5.36 and a beta of 1.54. The stock has a fifty day moving average of $10.36 and a 200-day moving average of $9.36. The company has a quick ratio of 4.81, a current ratio of 5.29 and a debt-to-equity ratio of 1.71. AVITA Medical has a 12-month low of $7.51 and a 12-month high of $18.93.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $15.04 million. AVITA Medical had a negative return on equity of 118.27% and a negative net margin of 92.04%. During the same quarter in the previous year, the business posted ($0.41) earnings per share. Equities analysts forecast that AVITA Medical will post -2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank acquired a new stake in shares of AVITA Medical during the 3rd quarter valued at about $32,000. Quest Partners LLC lifted its stake in AVITA Medical by 269.4% in the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after acquiring an additional 5,484 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in AVITA Medical in the second quarter worth approximately $86,000. EntryPoint Capital LLC acquired a new position in shares of AVITA Medical during the 1st quarter worth $224,000. Finally, Rhumbline Advisers raised its holdings in shares of AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after purchasing an additional 4,463 shares in the last quarter. Hedge funds and other 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.