PNC Financial Services Group Inc. cut its stake in Vericel Corp (NASDAQ:VCEL) by 40.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 279,995 shares of the biotechnology company’s stock after selling 190,916 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vericel were worth $3,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of VCEL. Capital Fund Management S.A. purchased a new position in Vericel during the 2nd quarter valued at about $104,000. Quantitative Systematic Strategies LLC purchased a new position in Vericel during the 2nd quarter valued at about $108,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Vericel during the 2nd quarter valued at about $116,000. Commonwealth Equity Services LLC purchased a new position in Vericel during the 2nd quarter valued at about $123,000. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Vericel during the 2nd quarter valued at about $128,000. 79.31% of the stock is owned by institutional investors and hedge funds.

Shares of VCEL opened at $17.28 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 7.96 and a quick ratio of 7.71. The stock has a market capitalization of $749.04 million, a PE ratio of -34.56 and a beta of 3.48. Vericel Corp has a 1 year low of $4.45 and a 1 year high of $18.87.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.09. The business had revenue of $22.50 million during the quarter, compared to analysts’ expectations of $18.14 million. Vericel had a negative return on equity of 17.39% and a negative net margin of 15.80%. The company’s revenue was up 57.3% compared to the same quarter last year. As a group, sell-side analysts expect that Vericel Corp will post -0.23 EPS for the current year.

In other news, insider Dominick Colangelo sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $15.39, for a total transaction of $769,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gerard J. Michel sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $12.35, for a total value of $185,250.00. Following the sale, the chief financial officer now directly owns 165,960 shares in the company, valued at approximately $2,049,606. The disclosure for this sale can be found here. Insiders sold a total of 178,500 shares of company stock valued at $2,660,375 in the last quarter. Company insiders own 3.30% of the company’s stock.

A number of equities analysts recently commented on the company. BidaskClub upgraded Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Needham & Company LLC lifted their price objective on Vericel to $18.00 and gave the company a “buy” rating in a research note on Tuesday, November 6th. Finally, BTIG Research lifted their price objective on Vericel from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.75.

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Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.

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Institutional Ownership by Quarter for Vericel (NASDAQ:VCEL)

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