Avita Medical (NASDAQ:RCEL) Downgraded to Sell Rating by BTIG Research

Key Points

• BTIG Research has reaffirmed its "sell" rating for Avita Medical (NASDAQ: RCEL) with a price target of $3.00, indicating a potential downside of 20.74% from the last close.
• Despite the sell rating from BTIG, D. Boral Capital has issued a "buy" rating with a higher price target of $19.00, showing a divergence in analyst opinions.
• Avita Medical's recent quarterly earnings report showed a loss of ($0.38) EPS, missing expectations and reflecting a negative net margin of 79.61%.

Avita Medical (NASDAQ:RCEL - Get Free Report) was downgraded by stock analysts at BTIG Research from a "neutral" rating to a "sell" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $3.00 price target on the stock. BTIG Research's price target indicates a potential downside of 29.41% from the company's current price.

Separately, D. Boral Capital reissued a "buy" rating and set a $19.00 target price on shares of Avita Medical in a research note on Friday, June 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $13.60.

Avita Medical Stock Performance

Shares of Avita Medical stock opened at $4.25 on Friday. Avita Medical has a 52 week low of $3.60 and a 52 week high of $14.16. The business's fifty day simple moving average is $5.50 and its 200-day simple moving average is $7.54. The firm has a market cap of $112.33 million, a PE ratio of -2.16 and a beta of 1.63. The company has a quick ratio of 1.72, a current ratio of 2.09 and a debt-to-equity ratio of 9.39.

Avita Medical (NASDAQ:RCEL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.12). Avita Medical had a negative net margin of 68.87% and a negative return on equity of 1,272.91%. The business had revenue of $18.42 million during the quarter, compared to analyst estimates of $34.27 million. Equities analysts forecast that Avita Medical will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On Avita Medical

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Avita Medical during the 4th quarter worth about $38,000. CWM LLC increased its holdings in Avita Medical by 1,099.5% during the 1st quarter. CWM LLC now owns 4,918 shares of the company's stock worth $40,000 after purchasing an additional 4,508 shares during the period. GAMMA Investing LLC increased its holdings in Avita Medical by 688.9% during the 1st quarter. GAMMA Investing LLC now owns 6,374 shares of the company's stock worth $52,000 after purchasing an additional 5,566 shares during the period. Meeder Asset Management Inc. purchased a new stake in Avita Medical during the 1st quarter worth about $53,000. Finally, Russell Investments Group Ltd. increased its holdings in Avita Medical by 48.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company's stock worth $92,000 after purchasing an additional 2,324 shares during the period. 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.