Cantor Fitzgerald Reiterates “Overweight” Rating for AVITA Medical (NASDAQ:RCEL)

AVITA Medical (NASDAQ:RCEL)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 78.72% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. D. Boral Capital started coverage on shares of AVITA Medical in a research note on Tuesday. They issued a “buy” rating and a $25.00 price objective on the stock.

AVITA Medical Price Performance

Shares of NASDAQ:RCEL opened at $11.75 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. The firm has a 50-day simple moving average of $11.95 and a 200 day simple moving average of $10.24. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $18.93. The company has a market cap of $308.06 million, a PE ratio of -5.27 and a beta of 1.60.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The firm had revenue of $19.55 million during the quarter, compared to the consensus estimate of $19.65 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. On average, sell-side analysts anticipate that AVITA Medical will post -2.35 EPS for the current year.

Institutional Investors Weigh In On AVITA Medical

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of AVITA Medical by 1.4% in the third quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after acquiring an additional 8,361 shares during the last quarter. State Street Corp increased its position in AVITA Medical by 2.4% in the 3rd quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after purchasing an additional 11,997 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of AVITA Medical during the 3rd quarter worth about $2,477,000. Jane Street Group LLC raised its stake in shares of AVITA Medical by 32.7% during the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after purchasing an additional 22,032 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of AVITA Medical by 340.0% in the 3rd quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after buying an additional 28,979 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors and hedge funds.

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.