Vericel (NASDAQ:VCEL) Insider Sean Flynn Sells 15,000 Shares of Stock

Vericel Corporation (NASDAQ:VCEL) insider Sean Flynn sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.64, for a total transaction of $684,600.00. Following the sale, the insider directly owned 1,647 shares in the company, valued at $75,169.08. This represents a 90.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vericel Stock Down 1.3%

Shares of NASDAQ:VCEL traded down $0.58 during trading on Tuesday, reaching $44.49. The stock had a trading volume of 743,265 shares, compared to its average volume of 621,141. The business has a fifty day moving average price of $36.33 and a 200-day moving average price of $35.85. The stock has a market cap of $2.27 billion, a P/E ratio of 105.93 and a beta of 1.12. Vericel Corporation has a fifty-two week low of $28.95 and a fifty-two week high of $46.62.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. Vericel had a net margin of 7.35% and a return on equity of 6.41%. The business had revenue of $68.43 million for the quarter, compared to the consensus estimate of $63.68 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, equities analysts forecast that Vericel Corporation will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial reduced their price target on Vericel from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Leerink Partners reiterated an “outperform” rating and issued a $46.00 target price on shares of Vericel in a research note on Tuesday, March 10th. Wall Street Zen downgraded Vericel from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. HC Wainwright reissued a “buy” rating and issued a $64.00 price target on shares of Vericel in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of Vericel from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Vericel currently has an average rating of “Hold” and an average target price of $52.50.

Institutional Investors Weigh In On Vericel

Institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its stake in shares of Vericel by 18.4% in the 1st quarter. Glenmede Trust Co. NA now owns 15,097 shares of the biotechnology company’s stock valued at $486,000 after purchasing an additional 2,348 shares in the last quarter. Bank of America Corp DE increased its position in Vericel by 19.7% during the 1st quarter. Bank of America Corp DE now owns 1,098,771 shares of the biotechnology company’s stock worth $35,347,000 after purchasing an additional 180,761 shares in the last quarter. California State Teachers Retirement System raised its holdings in Vericel by 26.3% in the first quarter. California State Teachers Retirement System now owns 61,233 shares of the biotechnology company’s stock valued at $1,970,000 after buying an additional 12,767 shares during the period. Rice Hall James & Associates LLC raised its holdings in Vericel by 1.6% in the first quarter. Rice Hall James & Associates LLC now owns 132,063 shares of the biotechnology company’s stock valued at $4,248,000 after buying an additional 2,094 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Vericel in the first quarter valued at approximately $405,000.

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.