Weiss Ratings Reaffirms Sell (D-) Rating for Avita Medical (NASDAQ:RCEL)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Avita Medical (NASDAQ:RCEL), indicating negative outlook from equities researchers.
• Avita Medical's stock price target has been varied by analysts, with Lake Street Capital reducing it from $14.00 to $8.00 while BTIG set a target of $3.00.
• The company's recent earnings report showed a loss of ($0.38) earnings per share, missing estimates and reflecting a negative return on equity of 632.62%.

Avita Medical (NASDAQ:RCEL - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on the company. Lake Street Capital reduced their price target on Avita Medical from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, August 11th. D. Boral Capital reiterated a "buy" rating and issued a $14.00 price target on shares of Avita Medical in a report on Monday, September 15th. Wall Street Zen downgraded Avita Medical from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, BTIG Research lowered Avita Medical from a "neutral" rating to a "sell" rating and set a $3.00 target price for the company. in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Avita Medical presently has an average rating of "Hold" and a consensus target price of $11.60.

Avita Medical Trading Up 0.7%

Shares of NASDAQ RCEL traded up $0.04 during midday trading on Wednesday, hitting $5.51. The company's stock had a trading volume of 143,431 shares, compared to its average volume of 384,979. The business's 50 day moving average is $5.08 and its two-hundred day moving average is $6.34. Avita Medical has a 12-month low of $3.60 and a 12-month high of $14.16. The firm has a market cap of $146.68 million, a P/E ratio of -2.80 and a beta of 1.64.

Avita Medical (NASDAQ:RCEL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.12). Avita Medical had a negative return on equity of 632.62% and a negative net margin of 68.87%.The business had revenue of $18.42 million during the quarter, compared to analysts' expectations of $34.27 million. Avita Medical has set its FY 2025 guidance at EPS. On average, analysts predict that Avita Medical will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert Mcnamara purchased 10,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were acquired at an average cost of $4.50 per share, for a total transaction of $45,000.00. Following the acquisition, the director owned 86,771 shares of the company's stock, valued at approximately $390,469.50. This represents a 13.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 24,000 shares of company stock valued at $113,660. Company insiders own 2.80% of the company's stock.

Institutional Trading of Avita Medical

A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Avita Medical by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 55,141 shares of the company's stock valued at $449,000 after buying an additional 1,924 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Avita Medical by 16.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,181 shares of the company's stock worth $148,000 after purchasing an additional 2,564 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Avita Medical by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 42,168 shares of the company's stock worth $223,000 after purchasing an additional 3,393 shares in the last quarter. CWM LLC boosted its position in shares of Avita Medical by 1,099.5% in 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 in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Avita Medical by 16.2% in the 4th quarter. Bank of America Corp DE now owns 38,121 shares of the company's stock worth $488,000 after purchasing an additional 5,324 shares in the last quarter. 27.66% of the stock is currently owned by 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.

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