AVITA Medical shares are trading lower after the company cut FY23 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
AVITA Medical's stock is trading lower following the company's announcement of reduced revenue guidance for FY23, which is below market expectations.
November 20, 2023 | 9:29 pm
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AVITA Medical, which trades under the ticker RCEL, has seen its stock price decline after announcing a decrease in its revenue guidance for FY23, falling short of analysts' forecasts.
The reduction in revenue guidance is a direct indicator of potential underperformance compared to previous expectations. This typically results in a negative investor sentiment and a decrease in stock price in the short term as the market adjusts to the new information.
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