Avita Medical Inc. (NASDAQ:RCEL) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Avita Medical Inc. has received an average consensus rating of "Hold" from five analysts, with one sell, one hold, and three buy ratings. The average 12-month price target is $13.60.
• The company recently reported a net loss of ($0.38) earnings per share, missing analyst expectations, with a revenue of $18.42 million in the last quarter.
• Shares of Avita Medical have experienced significant volatility, trading down 21.0% recently, with current prices around $4.25 after a twelve-month high of $14.16.

Avita Medical Inc. (NASDAQ:RCEL - Get Free Report) has earned an average rating of "Hold" from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.40.

RCEL has been the subject of a number of recent analyst reports. D. Boral Capital dropped their target price on shares of Avita Medical from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Lake Street Capital reduced their price target on shares of Avita Medical from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday. BTIG Research downgraded 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 report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Avita Medical from a "hold" rating to a "sell" rating in a research report on Saturday.

Institutional Trading of Avita Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCEL. Vanguard Group Inc. increased its position in Avita Medical by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,423,439 shares of the company's stock worth $18,220,000 after purchasing an additional 5,767 shares during the period. JPMorgan Chase & Co. increased its position in Avita Medical by 63.0% in the fourth quarter. JPMorgan Chase & Co. now owns 52,706 shares of the company's stock worth $675,000 after purchasing an additional 20,362 shares during the period. Geode Capital Management LLC lifted its stake in Avita Medical by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 597,595 shares of the company's stock valued at $7,650,000 after buying an additional 3,159 shares during the period. ExodusPoint Capital Management LP acquired a new position in Avita Medical in the fourth quarter valued at about $220,000. Finally, Wells Fargo & Company MN lifted its stake in Avita Medical by 41.2% in the fourth quarter. Wells Fargo & Company MN now owns 13,941 shares of the company's stock valued at $178,000 after buying an additional 4,070 shares during the period. 27.66% of the stock is currently owned by institutional investors and hedge funds.

Avita Medical Price Performance

Shares of Avita Medical stock traded up $0.25 during mid-day trading on Friday, reaching $5.77. 193,542 shares of the stock were exchanged, compared to its average volume of 272,633. The company has a market cap of $153.62 million, a price-to-earnings ratio of -2.93 and a beta of 1.63. The company has a current ratio of 0.58, a quick ratio of 1.72 and a debt-to-equity ratio of 9.39. The firm has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $7.48. Avita Medical has a fifty-two week low of $3.60 and a fifty-two week high of $14.16.

Avita Medical (NASDAQ:RCEL - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.12). The firm had revenue of $18.42 million for the quarter, compared to analyst estimates of $34.27 million. Avita Medical had a negative return on equity of 1,272.91% and a negative net margin of 68.87%. On average, sell-side analysts predict that Avita Medical will post -0.95 EPS for the current fiscal 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.