Avita Medical (NASDAQ:RCEL) Upgraded at BTIG Research

Avita Medical (NASDAQ:RCEL) was upgraded by equities research analysts at BTIG Research from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

A number of other analysts have also weighed in on RCEL. Weiss Ratings reissued a “sell (d-)” rating on shares of Avita Medical in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Avita Medical from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Zacks Research cut shares of Avita Medical from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of Avita Medical in a report on Friday, November 7th. Finally, Lake Street Capital cut Avita Medical from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.00 to $4.00 in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Avita Medical Price Performance

Shares of NASDAQ RCEL opened at $3.95 on Thursday. Avita Medical has a one year low of $3.35 and a one year high of $14.16. The firm’s 50 day simple moving average is $4.66 and its two-hundred day simple moving average is $5.29. The stock has a market capitalization of $120.44 million, a P/E ratio of -2.18 and a beta of 1.58.

Avita Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). Avita Medical had a negative net margin of 67.07% and a negative return on equity of 632.62%. The business had revenue of $17.06 million during the quarter, compared to analysts’ expectations of $29.39 million. Avita Medical has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Avita Medical will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Avita Medical

In other news, Director Robert Mcnamara purchased 10,000 shares of Avita Medical stock in a transaction that occurred on Thursday, August 28th. The shares were bought at an average cost of $4.50 per share, with a total value of $45,000.00. Following the completion of the purchase, the director directly owned 86,771 shares in the company, valued at approximately $390,469.50. This trade represents a 13.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Avita Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in Avita Medical by 3.6% during the first 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 during the last quarter. CWM LLC boosted its stake in 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. Meeder Asset Management Inc. purchased a new stake in Avita Medical during the 1st quarter valued at about $53,000. Evernest Financial Advisors LLC bought a new stake in Avita Medical during the 1st quarter valued at about $411,000. Finally, Nuveen LLC purchased a new position in Avita Medical in the first quarter worth about $584,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.