D. Boral Capital Reaffirms "Buy" Rating for AVITA Medical (NASDAQ:RCEL)

D. Boral Capital reiterated their buy rating on shares of AVITA Medical (NASDAQ:RCEL - Free Report) in a report issued on Friday,Benzinga reports. The firm currently has a $19.00 price objective on the stock.

AVITA Medical Price Performance

NASDAQ:RCEL remained flat at $6.11 during midday trading on Friday. 259,840 shares of the company were exchanged, compared to its average volume of 182,549. The business has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $9.47. The firm has a market capitalization of $161.52 million, a PE ratio of -2.56 and a beta of 1.55. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.83 and a quick ratio of 2.47. AVITA Medical has a 1-year low of $5.46 and a 1-year high of $14.16.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.14). The firm had revenue of $18.51 million for the quarter, compared to analyst estimates of $33.15 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. On average, equities research analysts anticipate that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AVITA Medical

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of AVITA Medical during the fourth quarter valued at approximately $38,000. CWM LLC grew its stake in shares of AVITA Medical by 1,099.5% during the first quarter. CWM LLC now owns 4,918 shares of the company's stock valued at $40,000 after purchasing an additional 4,508 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of AVITA Medical by 688.9% during the first quarter. GAMMA Investing LLC now owns 6,374 shares of the company's stock valued at $52,000 after purchasing an additional 5,566 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of AVITA Medical during the first quarter valued at approximately $53,000. Finally, Russell Investments Group Ltd. grew its stake in shares of AVITA Medical by 48.0% during the fourth quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company's stock valued at $92,000 after purchasing an additional 2,324 shares during the last quarter. 27.66% of the stock is owned by institutional investors.

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.