Vericel Corporation (VCEL) Trading Down 4.7%
Vericel Corporation (NASDAQ:VCEL) fell 4.7% during trading on Friday . The stock traded as low as $4.75 and last traded at $5.05. 1,107,779 shares were traded during mid-day trading, an increase of 67% from the average session volume of 661,482 shares. The stock had previously closed at $5.30.
Several research firms have commented on VCEL. BTIG Research set a $6.00 target price on Vericel Corporation and gave the company a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $7.00 target price on shares of Vericel Corporation in a research note on Thursday, August 10th.
The company’s 50 day moving average is $4.58 and its 200-day moving average is $3.34. The stock’s market cap is $160.84 million.
Vericel Corporation (NASDAQ:VCEL) last posted its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.16. The company had revenue of $16.95 million during the quarter. On average, equities analysts expect that Vericel Corporation will post ($0.62) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Archon Capital Management LLC bought a new stake in Vericel Corporation during the second quarter worth $4,412,000. Vanguard Group Inc. lifted its holdings in Vericel Corporation by 7.9% during the second quarter. Vanguard Group Inc. now owns 1,212,799 shares of the biotechnology company’s stock worth $4,002,000 after acquiring an additional 88,645 shares during the period. First Washington CORP bought a new stake in Vericel Corporation during the second quarter worth $2,230,000. Bank of New York Mellon Corp lifted its holdings in Vericel Corporation by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 4,523 shares during the period. Finally, Perkins Capital Management Inc. lifted its holdings in Vericel Corporation by 12.6% during the second quarter. Perkins Capital Management Inc. now owns 257,600 shares of the biotechnology company’s stock worth $850,000 after acquiring an additional 28,850 shares during the period. Institutional investors and hedge funds own 33.84% of the company’s stock.
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About Vericel Corporation
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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