Adage Capital Partners GP L.L.C. lessened its stake in Vericel Corporation (NASDAQ:VCEL - Free Report) by 35.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,200 shares of the biotechnology company's stock after selling 25,600 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Vericel worth $2,061,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Vericel by 1.6% in the first quarter. Invesco Ltd. now owns 2,273,494 shares of the biotechnology company's stock valued at $101,443,000 after purchasing an additional 35,345 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Vericel by 1.6% in the first quarter. Congress Asset Management Co. now owns 1,476,718 shares of the biotechnology company's stock valued at $65,891,000 after purchasing an additional 22,579 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Vericel by 12.4% in the first quarter. GW&K Investment Management LLC now owns 1,432,434 shares of the biotechnology company's stock valued at $63,915,000 after purchasing an additional 158,470 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Vericel by 24.2% in the first quarter. Geneva Capital Management LLC now owns 1,365,744 shares of the biotechnology company's stock valued at $60,939,000 after purchasing an additional 265,956 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Vericel by 5.8% in the first quarter. Wellington Management Group LLP now owns 1,363,644 shares of the biotechnology company's stock valued at $60,846,000 after purchasing an additional 74,723 shares in the last quarter.
Vericel Price Performance
NASDAQ:VCEL opened at $33.22 on Tuesday. The business has a fifty day simple moving average of $37.44 and a two-hundred day simple moving average of $41.35. Vericel Corporation has a 1 year low of $32.98 and a 1 year high of $63.00. The company has a market capitalization of $1.68 billion, a P/E ratio of 276.86 and a beta of 1.33.
Vericel (NASDAQ:VCEL - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. Vericel had a return on equity of 2.47% and a net margin of 2.85%.The business had revenue of $63.24 million during the quarter, compared to the consensus estimate of $64.61 million. During the same period last year, the business posted ($0.10) earnings per share. The business's revenue for the quarter was up 20.1% on a year-over-year basis. As a group, analysts anticipate that Vericel Corporation will post 0.14 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on VCEL. Wall Street Zen downgraded Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Canaccord Genuity Group decreased their price target on Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Stephens reaffirmed an "overweight" rating and set a $67.00 price target on shares of Vericel in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $60.40.
Read Our Latest Analysis on Vericel
About Vericel
(
Free Report)
Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.
Further Reading
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