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

D. Boral Capital reissued their buy rating on shares of AVITA Medical (NASDAQ:RCEL - Free Report) in a research report report published on Friday morning,Benzinga reports. D. Boral Capital currently has a $19.00 target price on the stock.

AVITA Medical Stock Up 6.3%

Shares of AVITA Medical stock traded up $0.36 during midday trading on Friday, hitting $6.11. The company had a trading volume of 274,309 shares, compared to its average volume of 181,991. AVITA Medical has a 52-week low of $5.46 and a 52-week high of $14.16. The company has a debt-to-equity ratio of 9.39, a quick ratio of 2.47 and a current ratio of 2.83. The stock has a market capitalization of $161.52 million, a P/E ratio of -2.56 and a beta of 1.74. The company has a 50 day moving average of $7.91 and a 200 day moving average of $9.61.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last released its quarterly earnings data 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). AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. The firm had revenue of $18.51 million for the quarter, compared to the consensus estimate of $33.15 million. On average, equities analysts predict that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RCEL. Rhumbline Advisers boosted its position in AVITA Medical by 9.8% in the first quarter. Rhumbline Advisers now owns 38,775 shares of the company's stock worth $316,000 after purchasing an additional 3,448 shares during the last quarter. Strs Ohio bought a new position in shares of AVITA Medical during the 1st quarter valued at approximately $116,000. Jane Street Group LLC increased its holdings in AVITA Medical by 20.4% in the 1st quarter. Jane Street Group LLC now owns 63,744 shares of the company's stock worth $519,000 after acquiring an additional 10,789 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in AVITA Medical in the 1st quarter worth approximately $374,000. Finally, AQR Capital Management LLC bought a new stake in AVITA Medical during the 1st quarter worth approximately $799,000. 27.66% of the stock is owned by hedge funds and other 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.