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

Key Points

• Consensus "Hold": Six analysts cover Avita Medical with a consensus rating of "Hold" (1 sell, 3 hold, 2 buy) and an average 12‑month price target of $6.625.
• Stock snapshot: RCEL opened at $5.16 with a market cap of $158.8M, a negative trailing PE of -2.95, a 52‑week range of $3.22–$10.29, and 50‑/200‑day moving averages of $4.39 and $4.12 respectively.
• Institutional activity: Several large investors (including Rhumbline, Russell Investments, Deutsche Bank and Wells Fargo) have recently adjusted stakes, with institutions owning about 27.66% of the shares.

Shares of Avita Medical Inc. (NASDAQ:RCEL - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.6250.

RCEL has been the subject of a number of recent analyst reports. Northland Securities initiated coverage on Avita Medical in a report on Thursday, March 5th. They set an "outperform" rating and a $10.00 target price for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Avita Medical in a research report on Friday, March 27th. Zacks Research raised shares of Avita Medical from a "strong sell" rating to a "hold" rating in a research note on Friday, December 19th. D. Boral Capital reaffirmed a "buy" rating and set a $10.00 target price on shares of Avita Medical in a report on Wednesday, April 8th. Finally, Lake Street Capital increased their target price on shares of Avita Medical from $3.00 to $3.50 and gave the stock a "hold" rating in a research note on Friday, January 16th.

Avita Medical Stock Performance

Shares of NASDAQ RCEL opened at $5.16 on Thursday. The stock has a market cap of $158.82 million, a PE ratio of -2.95 and a beta of 1.89. Avita Medical has a fifty-two week low of $3.22 and a fifty-two week high of $10.29. The stock has a fifty day moving average of $4.39 and a 200-day moving average of $4.12.

Institutional Investors Weigh In On Avita Medical

Several large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in Avita Medical by 8.8% during the second quarter. Rhumbline Advisers now owns 42,168 shares of the company's stock worth $223,000 after buying an additional 3,393 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Avita Medical by 122.2% in the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company's stock valued at $28,000 after acquiring an additional 4,425 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Avita Medical during the 3rd quarter valued at about $32,000. Deutsche Bank AG boosted its position in shares of Avita Medical by 1,351.5% during the 4th quarter. Deutsche Bank AG now owns 7,896 shares of the company's stock valued at $27,000 after acquiring an additional 7,352 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Avita Medical by 98.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,832 shares of the company's stock worth $65,000 after purchasing an additional 9,345 shares in the last quarter. 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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