Avita Medical (NASDAQ:RCEL) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Avita Medical's stock has been reissued a "Sell (D-)" rating by Weiss Ratings, amidst a flurry of recent downgrades from other analysts.
• The company reported earnings per share of ($0.38) for the last quarter, missing expectations, and had a revenue performance significantly below estimates, indicating ongoing financial struggles.
• A notable insider transaction saw Director Robert McNamara acquire 10,000 shares at $4.50 per share, suggesting confidence in the company's future despite current market challenges.

Avita Medical (NASDAQ:RCEL - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Other equities research analysts also recently issued research reports about the company. D. Boral Capital reissued a "buy" rating and set a $14.00 price target on shares of Avita Medical in a research report on Friday, October 17th. Wall Street Zen downgraded Avita Medical from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. BTIG Research downgraded 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. Zacks Research downgraded Avita Medical from a "hold" rating to a "strong sell" rating in a report on Tuesday. Finally, Lake Street Capital downgraded Avita Medical from a "buy" rating to a "hold" rating and reduced their target price for the company from $8.00 to $4.00 in a report on Friday, October 17th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $10.80.

Avita Medical Price Performance

NASDAQ:RCEL traded down $0.05 during trading hours on Friday, reaching $3.97. 160,983 shares of the company were exchanged, compared to its average volume of 380,296. The company has a market capitalization of $105.68 million, a P/E ratio of -2.02 and a beta of 1.64. Avita Medical has a 1-year low of $3.60 and a 1-year high of $14.16. The business has a 50 day moving average of $4.96 and a 200 day moving average of $6.06.

Avita Medical (NASDAQ:RCEL - Get Free Report) last issued its quarterly 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 company 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 632.62% and a negative net margin of 68.87%. Avita Medical has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Avita Medical will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Avita Medical

In other Avita Medical news, Director Robert Mcnamara bought 10,000 shares of Avita Medical stock in a transaction on Thursday, August 28th. The shares were purchased at an average price of $4.50 per share, with a total value of $45,000.00. Following the acquisition, the director owned 86,771 shares in the company, valued at $390,469.50. This trade represents a 13.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 24,000 shares of company stock valued at $113,660. Company insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Avita Medical

A number of large investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Avita Medical by 1,099.5% in the 1st quarter. CWM LLC now owns 4,918 shares of the company's stock valued at $40,000 after acquiring an additional 4,508 shares during the last quarter. Farther Finance Advisors LLC bought a new position in shares of Avita Medical in the 3rd quarter valued at $32,000. Meeder Asset Management Inc. bought a new position in shares of Avita Medical in the 1st quarter valued at $53,000. The Manufacturers Life Insurance Company bought a new position in shares of Avita Medical in the 2nd quarter valued at $58,000. Finally, Strs Ohio bought a new position in shares of Avita Medical in the 1st quarter valued at $116,000. Institutional investors and hedge funds 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.

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