D. Boral Capital Begins Coverage on AVITA Medical (NASDAQ:RCEL)

D. Boral Capital began coverage on shares of AVITA Medical (NASDAQ:RCEL) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $25.00 price target on the stock.

Separately, Piper Sandler restated a “neutral” rating and set a $12.00 price target (up previously from $9.00) on shares of AVITA Medical in a report on Friday, November 8th.

AVITA Medical Stock Performance

RCEL stock opened at $12.91 on Tuesday. The firm has a 50 day simple moving average of $12.00 and a 200 day simple moving average of $10.27. AVITA Medical has a 52 week low of $7.51 and a 52 week high of $18.93. The stock has a market cap of $338.47 million, a P/E ratio of -5.79 and a beta of 1.60. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The firm had revenue of $19.55 million for the quarter, compared to analyst estimates of $19.65 million. AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. During the same period in the previous year, the business posted ($0.34) EPS. Research analysts anticipate that AVITA Medical will post -2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AVITA Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank acquired a new stake in shares of AVITA Medical in the third quarter worth $32,000. FMR LLC lifted its position in AVITA Medical by 126.9% during the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock worth $46,000 after acquiring an additional 2,376 shares during the last quarter. Quest Partners LLC boosted its holdings in AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after acquiring an additional 5,484 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of AVITA Medical in the second quarter worth about $86,000. Finally, IHT Wealth Management LLC lifted its position in shares of AVITA Medical by 24.3% during the 3rd quarter. IHT Wealth Management LLC now owns 28,100 shares of the company’s stock worth $301,000 after purchasing an additional 5,500 shares during the last quarter. 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.