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Strength Seen in Avita Medical Inc. (RCEL): Can Its 20.4% Jump Turn into More Strength?
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Avita Medical Inc. (RCEL - Free Report) shares rallied 20.4% in the last trading session to close at $20.79. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.9% gain over the past four weeks.
The rise in stock price is most likely attributable to positive investor expectations around the Recell system, Avita's sole marketed product device which produces a suspension of Spray-On Skin cells for treating acute thermal burns in both adults and children. Last month, the company submitted a premarket approval (PMA) supplement to the FDA seeking approval for RECELL GO, which aims to automate the process of cell disaggregation as compared to the manual management of skin samples done in the existing Recell system.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -36%. Revenues are expected to be $11.2 million, up 34.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Avita Medical Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RCEL going forward to see if this recent jump can turn into more strength down the road.
Avita Medical Inc. is part of the Zacks Medical - Drugs industry. Ocular Therapeutix (OCUL - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $4.61. OCUL has returned -11.9% in the past month.
For Ocular Therapeutix, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.29. This represents a change of -3.6% from what the company reported a year ago. Ocular Therapeutix currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Avita Medical Inc. (RCEL): Can Its 20.4% Jump Turn into More Strength?
Avita Medical Inc. (RCEL - Free Report) shares rallied 20.4% in the last trading session to close at $20.79. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.9% gain over the past four weeks.
The rise in stock price is most likely attributable to positive investor expectations around the Recell system, Avita's sole marketed product device which produces a suspension of Spray-On Skin cells for treating acute thermal burns in both adults and children. Last month, the company submitted a premarket approval (PMA) supplement to the FDA seeking approval for RECELL GO, which aims to automate the process of cell disaggregation as compared to the manual management of skin samples done in the existing Recell system.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -36%. Revenues are expected to be $11.2 million, up 34.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Avita Medical Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RCEL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Avita Medical Inc. is part of the Zacks Medical - Drugs industry. Ocular Therapeutix (OCUL - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $4.61. OCUL has returned -11.9% in the past month.
For Ocular Therapeutix, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.29. This represents a change of -3.6% from what the company reported a year ago. Ocular Therapeutix currently has a Zacks Rank of #3 (Hold).