D. Boral Capital Reaffirms Buy Rating for Avita Medical (NASDAQ:RCEL)

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the stock. D. Boral Capital’s target price indicates a potential upside of 132.02% from the company’s current price.

Several other research firms also recently weighed in 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 lifted their price objective on shares of Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a report on Friday, January 16th. BTIG Research upgraded shares of 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 equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.50.

Avita Medical Price Performance

Avita Medical stock opened at $4.31 on Tuesday. The firm has a market capitalization of $132.02 million, a P/E ratio of -2.46 and a beta of 1.78. Avita Medical has a 1-year low of $3.22 and a 1-year high of $10.50. The company’s 50-day moving average is $3.77 and its 200 day moving average is $4.27.

Hedge Funds Weigh In On Avita Medical

Several institutional investors have recently bought and sold shares of RCEL. Geode Capital Management LLC lifted its holdings in Avita Medical by 44.6% during the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock worth $1,654,000 after buying an additional 147,722 shares during the period. Bridgeway Capital Management LLC raised its position 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 acquiring an additional 80,404 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Avita Medical during the 3rd quarter worth $511,000. AQR Capital Management LLC bought a new stake in Avita Medical during the first quarter valued at about $799,000. Finally, Jane Street Group LLC boosted its position in Avita Medical by 36.1% during the second quarter. Jane Street Group LLC now owns 86,730 shares of the company’s stock valued at $459,000 after purchasing an additional 22,986 shares in the last quarter. 27.66% of the stock is owned by hedge funds and other institutional investors.

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.