Avita Medical’s (RCEL) “Buy” Rating Reiterated at D. Boral Capital

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by equities research analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the stock. D. Boral Capital’s price objective would indicate a potential upside of 140.38% from the company’s current price.

Several other research analysts also recently commented on RCEL. Lake Street Capital lifted their target price on shares of Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a report on Friday, January 16th. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. BTIG Research upgraded Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.50.

Avita Medical Stock Up 11.8%

NASDAQ:RCEL opened at $4.16 on Tuesday. The company’s 50 day moving average is $3.74 and its 200-day moving average is $4.28. Avita Medical has a 12 month low of $3.22 and a 12 month high of $11.25. The firm has a market cap of $127.42 million, a price-to-earnings ratio of -2.38 and a beta of 1.78.

Institutional Trading of Avita Medical

Several institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Avita Medical by 44.6% in the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock worth $1,654,000 after purchasing an additional 147,722 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Avita Medical by 213.8% in the 3rd quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after buying an additional 80,404 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Avita Medical in the 3rd quarter worth approximately $511,000. AQR Capital Management LLC acquired a new stake in Avita Medical in the 1st quarter valued at $799,000. Finally, Jane Street Group LLC boosted its stake in Avita Medical by 36.1% in the 2nd quarter. Jane Street Group LLC now owns 86,730 shares of the company’s stock valued at $459,000 after buying an additional 22,986 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors and hedge funds.

Avita Medical Company Profile

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.