Avita Medical (NASDAQ:RCEL) Given Buy Rating at D. Boral Capital

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $10.00 target price on the stock. D. Boral Capital’s target price suggests a potential upside of 158.40% from the stock’s previous close.

A number of other equities research analysts also recently commented on RCEL. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Lake Street Capital boosted their target price on Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th. Northland Securities assumed coverage on Avita Medical in a research report on Thursday, March 5th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.63.

Avita Medical Stock Down 0.8%

NASDAQ RCEL opened at $3.87 on Wednesday. The firm has a market cap of $118.55 million, a price-to-earnings ratio of -2.21 and a beta of 1.89. The business has a 50-day moving average price of $4.32 and a 200-day moving average price of $4.14. Avita Medical has a twelve month low of $3.22 and a twelve month high of $10.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aristides Capital LLC bought a new position in Avita Medical in the fourth quarter worth approximately $48,000. Jain Global LLC bought a new stake in Avita Medical during the 4th quarter valued at $83,000. Russell Investments Group Ltd. boosted its position in Avita Medical by 122.2% during the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company’s stock valued at $28,000 after acquiring an additional 4,425 shares in the last quarter. Wells Fargo & Company MN boosted its position in Avita Medical by 98.5% during the 4th quarter. Wells Fargo & Company MN now owns 18,832 shares of the company’s stock valued at $65,000 after acquiring an additional 9,345 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Avita Medical by 1,351.5% during the 4th quarter. Deutsche Bank AG now owns 7,896 shares of the company’s stock valued at $27,000 after acquiring an additional 7,352 shares in the last quarter. Institutional investors own 27.66% of the company’s stock.

About Avita Medical

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.