AVITA Medical, Inc. (NASDAQ:RCEL – Get Free Report)’s share price hit a new 52-week high during trading on Thursday after Lake Street Capital raised their price target on the stock from $30.00 to $40.00. The company traded as high as $20.14 and last traded at $20.00, with a volume of 440691 shares changing hands. The stock had previously closed at $17.27.
A number of other equities analysts also recently weighed in on RCEL. Cantor Fitzgerald assumed coverage on AVITA Medical in a research report on Tuesday, June 27th. They set an “overweight” rating and a $23.00 price target for the company. BTIG Research raised their price target on AVITA Medical from $19.00 to $26.00 in a research note on Tuesday, June 20th. Finally, Piper Sandler increased their price objective on AVITA Medical from $16.00 to $18.50 in a report on Friday, May 12th.
Institutional Trading of AVITA Medical
A number of hedge funds have recently made changes to their positions in RCEL. Millennium Management LLC acquired a new position in shares of AVITA Medical during the 2nd quarter worth approximately $1,269,000. Renaissance Technologies LLC bought a new position in shares of AVITA Medical in the first quarter valued at about $1,826,000. Jane Street Group LLC acquired a new stake in shares of AVITA Medical during the 1st quarter worth about $1,968,000. Susquehanna International Group LLP boosted its holdings in shares of AVITA Medical by 88.3% during the 1st quarter. Susquehanna International Group LLP now owns 230,077 shares of the company’s stock worth $3,214,000 after buying an additional 107,868 shares during the period. Finally, Globeflex Capital L P grew its stake in AVITA Medical by 183.0% in the 1st quarter. Globeflex Capital L P now owns 118,862 shares of the company’s stock valued at $1,661,000 after buying an additional 76,856 shares during the last quarter. 22.82% of the stock is owned by institutional investors and hedge funds.
AVITA Medical Trading Up 20.4 %
AVITA Medical (NASDAQ:RCEL – Get Free Report) last posted its earnings results on Thursday, May 11th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.15). The firm had revenue of $10.55 million during the quarter, compared to analyst estimates of $10.52 million. AVITA Medical had a negative net margin of 70.59% and a negative return on equity of 30.83%. On average, equities research analysts predict that AVITA Medical, Inc. will post -1.19 EPS for the current year.
About AVITA Medical
AVITA Medical, Inc operates as a regenerative medicine company in the United States, Australia, Japan, and the United Kingdom. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications, including vitiligo.
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