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

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by equities researchers at D. Boral Capital in a report released on Wednesday,Benzinga reports. They currently have a $10.00 price objective on the stock. D. Boral Capital’s price objective would suggest a potential upside of 158.40% from the stock’s previous close.

RCEL has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research report on Friday, March 27th. Lake Street Capital increased their target price on Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a research report on Friday, January 16th. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Finally, Northland Securities began coverage on Avita Medical in a report on Thursday, March 5th. They set an “outperform” rating and a $10.00 price objective for the company. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.63.

Avita Medical Trading Down 0.8%

Shares of NASDAQ RCEL opened at $3.87 on Wednesday. The stock has a market capitalization of $118.55 million, a PE ratio of -2.21 and a beta of 1.89. The stock’s fifty day simple moving average is $4.32 and its two-hundred day simple moving average is $4.14. Avita Medical has a 12-month low of $3.22 and a 12-month high of $10.29.

Institutional Trading of Avita Medical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC purchased a new stake in shares of Avita Medical during the 3rd quarter valued at $32,000. Deutsche Bank AG lifted its holdings in shares of 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 purchasing an additional 7,352 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of 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 purchasing an additional 4,425 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Avita Medical during the 2nd quarter valued at $58,000. Finally, Aristides Capital LLC purchased a new stake in shares of Avita Medical during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.