Aberdeen Group plc Buys 1,454,012 Shares of Vericel Corporation $VCEL

Key Points

• Aberdeen Group increased its Vericel stake by 204.7% in the third quarter, buying 1,454,012 shares to hold 2.16 million shares, or 4.23% of the company.
• Vericel reported quarterly earnings of $0.27 per share, beating the $0.06 consensus estimate, while revenue rose 26.5% year over year to $85.37 million.
• Analysts’ consensus rating was Buy, with an average price target of $62; meanwhile, company insiders sold 49,008 shares worth about $2.7 million in the last quarter.

Aberdeen Group plc raised its stake in Vericel Corporation (NASDAQ:VCEL - Free Report) by 204.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,164,250 shares of the biotechnology company's stock after purchasing an additional 1,454,012 shares during the period. Aberdeen Group plc owned 4.23% of Vericel worth $86,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Vericel during the 2nd quarter valued at $360,023,000. William Blair Investment Management LLC bought a new stake in Vericel during the second quarter worth $88,662,000. Bank of America Corp DE lifted its holdings in Vericel by 19.7% during the first quarter. Bank of America Corp DE now owns 1,098,771 shares of the biotechnology company's stock worth $35,347,000 after acquiring an additional 180,761 shares during the period. Dimensional Fund Advisors LP boosted its position in Vericel by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 844,755 shares of the biotechnology company's stock worth $27,173,000 after purchasing an additional 29,135 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in Vericel in the second quarter worth $24,463,000.

Insider Buying and Selling at Vericel

In other Vericel news, Director Robert L. Md Zerbe sold 3,000 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $52.23, for a total transaction of $156,690.00. Following the sale, the director owned 32,995 shares of the company's stock, valued at $1,723,328.85. The trade was a 8.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Siegal sold 1,500 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $52.90, for a total transaction of $79,350.00. Following the sale, the insider directly owned 1,259 shares in the company, valued at $66,601.10. The trade was a 54.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 49,008 shares of company stock valued at $2,701,078 in the last quarter. Corporate insiders own 7.60% of the company's stock.

Vericel Stock Down 0.8%

Shares of NASDAQ:VCEL opened at $56.96 on Friday. The firm has a market capitalization of $2.91 billion, a PE ratio of 89.00 and a beta of 1.08. Vericel Corporation has a twelve month low of $28.95 and a twelve month high of $59.75. The company has a 50-day moving average price of $42.78 and a two-hundred day moving average price of $39.41.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its earnings results on Thursday, November 5th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. Vericel had a net margin of 10.27% and a return on equity of 9.09%. The firm had revenue of $85.37 million during the quarter, compared to the consensus estimate of $77.95 million. During the same quarter last year, the company earned $0.10 earnings per share. The company's revenue was up 26.5% on a year-over-year basis. Analysts anticipate that Vericel Corporation will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on VCEL. Zacks Research upgraded Vericel from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Vericel in a research note on Thursday, October 29th. Stephens boosted their price target on shares of Vericel from $55.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, November 10th. TD Cowen boosted their price target on shares of Vericel from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, HC Wainwright increased their price target on shares of Vericel from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Vericel has a consensus rating of "Buy" and an average target price of $62.00.

About Vericel

Vericel Corporation is a biopharmaceutical company focused on developing and commercializing cell therapies and other treatments for serious conditions. Based in Cambridge, Massachusetts, the company markets its products primarily in the United States. Its products include MACI, an implant made from a patient's own cultured cartilage cells used to repair certain cartilage defects in the knee, and Epicel, a cultured skin graft used to treat patients with deep burns. Vericel also commercializes NexoBrid in the United States, an enzyme-based treatment for removing dead tissue from severe thermal burns.

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