Analysts Set Avita Medical Inc. (NASDAQ:RCEL) Target Price at $6.63

Shares of Avita Medical Inc. (NASDAQ:RCEL) have earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $6.6250.

Several equities research analysts have recently commented on the stock. Lake Street Capital lifted their price target on shares of Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th. Northland Securities assumed coverage on shares of Avita Medical in a research report on Thursday, March 5th. They set an “outperform” rating and a $10.00 price target for the company. D. Boral Capital reiterated a “buy” rating and set a $10.00 price target on shares of Avita Medical in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Friday, March 27th.

Avita Medical Price Performance

Shares of NASDAQ:RCEL opened at $4.67 on Thursday. Avita Medical has a one year low of $3.22 and a one year high of $10.29. The company has a 50 day moving average of $4.49 and a 200-day moving average of $4.11. The stock has a market cap of $143.74 million, a price-to-earnings ratio of -2.67 and a beta of 1.89.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RCEL. Deutsche Bank AG grew its holdings in 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 period. Russell Investments Group Ltd. grew its holdings in Avita Medical by 122.2% during the fourth 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 period. Farther Finance Advisors LLC acquired a new position in Avita Medical during the third quarter valued at approximately $32,000. Aristides Capital LLC acquired a new position in Avita Medical during the fourth quarter valued at approximately $48,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Avita Medical during the second quarter valued at approximately $58,000. Institutional investors and hedge funds 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.