Avita Medical (NASDAQ:RCEL) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Avita Medical (NASDAQ:RCEL) from a hold rating to a sell rating in a report published on Saturday.

A number of other research firms also recently issued reports on RCEL. D. Boral Capital reissued a “buy” rating and issued a $10.00 price target on shares of Avita Medical in a research note on Wednesday, April 8th. TD Cowen reaffirmed a “buy” rating on shares of Avita Medical in a research report on Tuesday, June 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research report on Wednesday, June 24th. Finally, Lake Street Capital raised Avita Medical from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.50 to $6.00 in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.25.

Avita Medical Trading Up 3.0%

Shares of Avita Medical stock opened at $4.75 on Friday. The company’s fifty day simple moving average is $4.38 and its two-hundred day simple moving average is $4.33. The company has a market cap of $146.19 million, a P/E ratio of -3.03 and a beta of 1.86. Avita Medical has a 12-month low of $3.22 and a 12-month high of $7.12.

Avita Medical (NASDAQ:RCEL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.30 million. Analysts predict that Avita Medical will post -1.09 EPS for the current fiscal year.

Insider Transactions at Avita Medical

In other Avita Medical news, Director Joseph Fralin Woody purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $4.19 per share, with a total value of $41,900.00. Following the transaction, the director directly owned 102,761 shares in the company, valued at approximately $430,568.59. The trade was a 10.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 37,200 shares of company stock worth $155,080. Company insiders own 2.24% of the company’s stock.

Institutional Investors Weigh In On Avita Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of RCEL. Deutsche Bank AG lifted its holdings in shares of Avita Medical by 1,351.5% during the fourth 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. Aristides Capital LLC bought a new stake in shares of Avita Medical in the 4th quarter worth approximately $48,000. Wells Fargo & Company MN grew its stake in shares of Avita Medical by 98.5% in the 4th quarter. Wells Fargo & Company MN now owns 18,832 shares of the company’s stock worth $65,000 after buying an additional 9,345 shares during the last quarter. Curi Capital LLC purchased a new stake in shares of Avita Medical in the 2nd quarter worth approximately $100,000. Finally, Strs Ohio bought a new position in Avita Medical during the 1st quarter valued at approximately $116,000. Hedge funds and other 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.