Cantor Fitzgerald Reiterates Overweight Rating for AVITA Medical

Cantor Fitzgerald has reaffirmed its "overweight" rating on AVITA Medical (NASDAQ:RCEL) in a research report circulated to investors on Tuesday. They have set a price target of $21.00 for the company's stock, indicating a potential upside of 78.72% based on its current trading price.

In addition to Cantor Fitzgerald's rating, other equities research analysts have recently shared their insights on AVITA Medical. Piper Sandler has maintained a "neutral" rating, raising its price target to $12.00 from a previous $9.00, as reflected in their report on November 8th. Furthermore, D. Boral Capital initiated coverage on AVITA Medical, giving it a "buy" rating with a price target of $25.00.

AVITA Medical's Stock Performance

On Tuesday, AVITA Medical's shares opened at $11.75. The company holds a quick ratio of 3.37, a current ratio of 3.73, and a debt-to-equity ratio of 3.48. It has a 50-day simple moving average at $11.95 and a 200-day simple moving average at $10.24. Over the past year, AVITA Medical's stock has seen a low of $7.51 and a high of $18.93. Currently, the company has a market capitalization of approximately $308.06 million, a PE ratio of -5.27, and a beta of 1.60.

AVITA Medical recently reported its quarterly earnings on November 7th. The results showed a loss of ($0.62) per share, which was worse than the consensus estimate of ($0.41) by a difference of ($0.21). The company also reported a net margin of -95.47% and a return on equity of -194.69%. During this quarter, AVITA Medical generated revenue of $19.55 million, slightly below the anticipated $19.65 million. For the current year, analysts are forecasting earnings per share of -2.35.

Investors' Activity Regarding AVITA Medical

Institutional investors have been active in buying and selling shares of AVITA Medical. Geode Capital Management LLC raised its stake by 1.4% in the third quarter, now owning 594,436 shares with a worth of approximately $6.37 million after acquiring 8,361 additional shares. Similarly, State Street Corp increased its position by 2.4%, owning 519,997 shares valued at $5.57 million after purchasing 11,997 shares in the latest quarter. Other investors, such as Essex Investment Management Co. LLC, also bought new stakes totaling around $2.48 million. Meanwhile, Jane Street Group LLC saw a 32.7% increase in its stake, now holding 89,395 shares valued at $958,000 due to the purchase of 22,032 additional shares.

Barclays PLC expanded its stake by an impressive 340%, now owning 37,503 shares after adding 28,979 shares in the third quarter. Overall, 27.66% of AVITA Medical's stock is currently held by institutional investors and hedge funds.

About AVITA Medical

AVITA Medical, Inc., along with its subsidiaries, operates as a regenerative medicine company both in the United States and internationally. The company's primary product is the RECELL System, which functions as a cell harvesting device for treating thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.

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