Vanguard Group Inc. Sells 47,833 Shares of Vericel Corporation $VCEL

Vanguard Group Inc. trimmed its position in shares of Vericel Corporation (NASDAQ:VCEL) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,515,638 shares of the biotechnology company’s stock after selling 47,833 shares during the period. Vanguard Group Inc. owned 0.07% of Vericel worth $110,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abich Financial Wealth Management LLC acquired a new stake in shares of Vericel during the third quarter worth $31,000. AlphaQuest LLC purchased a new stake in Vericel in the second quarter valued at approximately $60,000. Osaic Holdings Inc. increased its holdings in Vericel by 13.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company’s stock worth $125,000 after buying an additional 353 shares during the period. Smartleaf Asset Management LLC raised its position in Vericel by 178.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,241 shares of the biotechnology company’s stock worth $135,000 after buying an additional 2,077 shares during the last quarter. Finally, Connecticut Wealth Management LLC acquired a new stake in Vericel during the 2nd quarter valued at approximately $201,000.

Vericel Trading Up 1.7%

Shares of NASDAQ VCEL opened at $34.96 on Thursday. The stock has a market cap of $1.77 billion, a P/E ratio of 112.77 and a beta of 1.22. The business’s fifty day simple moving average is $36.95 and its 200-day simple moving average is $36.10. Vericel Corporation has a 12-month low of $29.24 and a 12-month high of $51.93.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $92.92 million during the quarter, compared to analysts’ expectations of $92.66 million. Vericel had a net margin of 5.98% and a return on equity of 5.17%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. On average, equities analysts forecast that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

VCEL has been the subject of a number of analyst reports. Truist Financial decreased their price target on Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, December 18th. HC Wainwright upped their price objective on shares of Vericel from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a research note on Sunday, January 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Vericel in a research note on Monday, December 29th. Finally, Zacks Research cut Vericel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vericel has an average rating of “Moderate Buy” and a consensus target price of $58.50.

About Vericel

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.