AVITA Medical's (RCEL) "Neutral" Rating Reaffirmed at Piper Sandler

Piper Sandler restated their neutral rating on shares of AVITA Medical (NASDAQ:RCEL - Free Report) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $9.00 price target on the stock, down from their prior price target of $21.00.

RCEL has been the subject of a number of other research reports. Cantor Fitzgerald reduced their price objective on AVITA Medical from $22.00 to $21.00 and set an overweight rating for the company in a research report on Tuesday. BTIG Research downgraded AVITA Medical from a buy rating to a neutral rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $24.60.

AVITA Medical Stock Up 4.4 %

Shares of RCEL stock traded up $0.37 during mid-day trading on Tuesday, reaching $8.72. 508,897 shares of the company's stock traded hands, compared to its average volume of 217,518. The company's 50-day moving average price is $12.58 and its 200-day moving average price is $13.51. The company has a market cap of $224.98 million, a P/E ratio of -6.23 and a beta of 1.42. The company has a quick ratio of 7.46, a current ratio of 7.88 and a debt-to-equity ratio of 0.81. 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 posted its quarterly earnings data 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 business had revenue of $14.20 million for the quarter, compared to analyst estimates of $14.10 million. On average, equities analysts expect that AVITA Medical will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RCEL. Vanguard Group Inc. grew its holdings in AVITA Medical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,360,696 shares of the company's stock valued at $19,880,000 after buying an additional 11,062 shares in the last quarter. Strs Ohio raised its position in AVITA Medical by 11.4% during the 4th quarter. Strs Ohio now owns 41,100 shares of the company's stock valued at $563,000 after purchasing an additional 4,200 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in AVITA Medical by 1,240.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,345 shares of the company's stock worth $101,000 after acquiring an additional 6,797 shares during the period. EAM Investors LLC increased its holdings in AVITA Medical by 43.4% during the third quarter. EAM Investors LLC now owns 249,192 shares of the company's stock valued at $3,641,000 after buying an additional 75,436 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of AVITA Medical by 10.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 127,772 shares of the company's stock worth $1,867,000 after acquiring an additional 11,571 shares in the last quarter. 27.66% of the stock is 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.