Avita Medical Inc. (NASDAQ:RCEL) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Avita Medical (NASDAQ:RCEL) has a consensus analyst rating of "Hold" from six firms, with an average 12-month price target of $6.63.
• Recent analyst action has been mixed, including price target increases from Lake Street Capital and bullish ratings from Northland Securities and D. Boral Capital, while Wall Street Zen and Weiss Ratings issued more negative views.
• The stock opened at $4.11 and has traded between $3.22 and $7.65 over the past year, with institutional investors holding 27.66% of shares outstanding.

Avita Medical Inc. (NASDAQ:RCEL - Get Free Report) has earned a consensus rating of "Hold" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.6250.

Several equities research analysts recently issued reports on RCEL shares. Lake Street Capital raised their price objective on shares of Avita Medical from $3.00 to $3.50 and gave the stock a "hold" rating in a research report on Friday, January 16th. Northland Securities started coverage on shares of Avita Medical in a research report on Thursday, March 5th. They set an "outperform" rating and a $10.00 price objective for the company. D. Boral Capital restated a "buy" rating and set a $10.00 price objective on shares of Avita Medical in a research report on Wednesday, April 8th. Wall Street Zen cut shares of Avita Medical from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Avita Medical in a research report on Friday, March 27th.

Avita Medical Stock Performance

Avita Medical stock opened at $4.11 on Monday. Avita Medical has a 12-month low of $3.22 and a 12-month high of $7.65. The stock has a market cap of $126.51 million, a P/E ratio of -2.35 and a beta of 1.90. The company has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.04.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Avita Medical by 44.6% during the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company's stock worth $1,654,000 after buying an additional 147,722 shares during the period. Bridgeway Capital Management LLC boosted its stake in Avita Medical by 213.8% during the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company's stock worth $603,000 after buying an additional 80,404 shares during the period. Divisadero Street Capital Management LP purchased a new position in Avita Medical during the third quarter worth about $511,000. AQR Capital Management LLC purchased a new position in Avita Medical during the first quarter worth about $799,000. Finally, Jane Street Group LLC boosted its stake in Avita Medical by 36.1% during the second quarter. Jane Street Group LLC now owns 86,730 shares of the company's stock worth $459,000 after buying an additional 22,986 shares during the period. Hedge funds and other institutional investors own 27.66% of the company's stock.

About Avita Medical

Avita Medical, Inc NASDAQ: RCEL is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient's own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.

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