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

Vericel Corporation (NASDAQ:VCEL) insider Sean Flynn sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $40.21, for a total value of $603,150.00. Following the transaction, the insider directly owned 1,647 shares in the company, valued at $66,225.87. The trade was a 90.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vericel Trading Down 0.2%

NASDAQ VCEL opened at $40.39 on Wednesday. The company has a market cap of $2.06 billion, a P/E ratio of 96.17 and a beta of 1.12. The company has a fifty day simple moving average of $35.59 and a 200 day simple moving average of $35.66. Vericel Corporation has a 12-month low of $28.95 and a 12-month high of $43.57.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in 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 buying an additional 2,348 shares during the last quarter. Bank of America Corp DE lifted its position in shares of 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 buying an additional 180,761 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Vericel by 26.3% in the 1st quarter. California State Teachers Retirement System now owns 61,233 shares of the biotechnology company’s stock worth $1,970,000 after buying an additional 12,767 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Vericel by 1.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 132,063 shares of the biotechnology company’s stock worth $4,248,000 after buying an additional 2,094 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of 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.