Cantor Fitzgerald Cuts AVITA Medical (NASDAQ:RCEL) Price Target to $21.00

AVITA Medical (NASDAQ:RCEL - Get Free Report) had its target price decreased by stock analysts at Cantor Fitzgerald from $22.00 to $21.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 140.83% from the stock's current price.

Several other analysts have also recently issued reports on RCEL. BTIG Research cut AVITA Medical from a "buy" rating to a "neutral" rating in a research note on Thursday, April 11th. Piper Sandler reiterated an "overweight" rating and issued a $21.00 price objective (up previously from $19.00) on shares of AVITA Medical in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.60.

AVITA Medical Trading Up 4.4 %

RCEL traded up $0.37 on Tuesday, hitting $8.72. 508,897 shares of the company were exchanged, compared to its average volume of 217,518. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.46 and a current ratio of 7.88. The firm has a fifty day simple moving average of $12.75 and a two-hundred day simple moving average of $13.51. The stock has a market capitalization of $224.98 million, a PE ratio of -6.16 and a beta of 1.42. AVITA Medical has a 12 month low of $7.51 and a 12 month high of $21.70.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. AVITA Medical had a negative net margin of 70.56% and a negative return on equity of 54.80%. The company had revenue of $14.20 million for the quarter, compared to the consensus estimate of $14.10 million. Sell-side analysts expect that AVITA Medical will post -1.21 earnings per share for the current year.

Institutional Trading of AVITA Medical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EAM Investors LLC increased its stake in shares of AVITA Medical by 43.4% in the 3rd quarter. EAM Investors LLC now owns 249,192 shares of the company's stock worth $3,641,000 after acquiring an additional 75,436 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of AVITA Medical during the first quarter valued at approximately $673,000. CenterBook Partners LP purchased a new position in shares of AVITA Medical during the fourth quarter valued at approximately $234,000. Aigen Investment Management LP bought a new stake in shares of AVITA Medical in the 4th quarter worth approximately $220,000. Finally, Vanguard Group Inc. grew its stake in shares of AVITA Medical by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,408,136 shares of the company's stock worth $22,572,000 after buying an additional 15,356 shares during the last quarter. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

AVITA Medical Company Profile

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.