398,365 Shares in Vericel Corporation $VCEL Bought by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management initiated a 398,365-share stake in Vericel valued at approximately $17.7 million, representing about 0.78% of the biotechnology company. Several other institutional investors also established new positions during the second quarter.
• Vericel reported quarterly revenue of $77.46 million and earnings of $0.04 per share, exceeding analyst estimates, while revenue increased 22.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $58.40 versus the stock’s reported price of $42.30. However, insiders sold 52,232 shares worth about $2.3 million over the past quarter.

Osterweis Capital Management Inc. bought a new stake in Vericel Corporation (NASDAQ:VCEL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 398,365 shares of the biotechnology company's stock, valued at approximately $17,723,000. Osterweis Capital Management Inc. owned about 0.78% of Vericel at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in shares of Vericel in the 2nd quarter valued at about $5,144,000. The Manufacturers Life Insurance Company purchased a new stake in Vericel during the second quarter worth approximately $1,158,000. Sanctuary Advisors LLC acquired a new stake in shares of Vericel in the second quarter worth $276,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Vericel in the second quarter worth $128,000. Finally, Quantbot Technologies LP purchased a new position in shares of Vericel in the 2nd quarter valued at $144,000.

Insider Activity at Vericel

In related news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of Vericel stock in a transaction on Friday, June 26th. The stock was sold at an average price of $44.75, for a total transaction of $223,750.00. Following the completion of the sale, the chief financial officer owned 16,009 shares of the company's stock, valued at approximately $716,402.75. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Siegal sold 4,500 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $48.90, for a total transaction of $220,050.00. Following the transaction, the insider directly owned 1,078 shares in the company, valued at $52,714.20. The trade was a 80.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,232 shares of company stock valued at $2,304,217 over the last quarter. Corporate insiders own 7.60% of the company's stock.

Vericel Stock Down 0.9%

Shares of NASDAQ:VCEL opened at $42.30 on Tuesday. The company has a market cap of $2.17 billion, a PE ratio of 90.00 and a beta of 1.06. Vericel Corporation has a fifty-two week low of $28.95 and a fifty-two week high of $49.32. The firm has a 50-day simple moving average of $44.71 and a 200 day simple moving average of $38.18.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its earnings results on Thursday, July 30th. The biotechnology company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. Vericel had a return on equity of 6.91% and a net margin of 7.91%.The company had revenue of $77.46 million during the quarter, compared to analyst estimates of $72.70 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The business's revenue was up 22.5% compared to the same quarter last year. As a group, research analysts forecast that Vericel Corporation will post 0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Vericel from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Truist Financial reaffirmed a "buy" rating and issued a $58.00 target price (up from $54.00) on shares of Vericel in a research report on Friday, July 31st. Wall Street Zen upgraded Vericel from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. TD Cowen raised their target price on Vericel from $55.00 to $58.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Canaccord Genuity Group set a $60.00 price objective on shares of Vericel in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Vericel has a consensus rating of "Moderate Buy" and a consensus target price of $58.40.

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.

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