Adage Capital Partners GP L.L.C. Sells 25,600 Shares of Vericel Corporation $VCEL

Adage Capital Partners GP L.L.C. cut its position in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 35.7% during the first quarter, according to the company in its most recent disclosure 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 0.09% of Vericel worth $2,061,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Vericel during the fourth quarter worth about $57,000. GAMMA Investing LLC grew its position in Vericel by 34.8% during the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock worth $129,000 after buying an additional 748 shares in the last quarter. Gagnon Securities LLC acquired a new stake in Vericel during the first quarter worth about $137,000. US Bancorp DE grew its position in Vericel by 29.9% during the first quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock worth $137,000 after buying an additional 706 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Vericel during the fourth quarter worth about $215,000.

Vericel Price Performance

Shares of NASDAQ:VCEL traded down $1.35 during trading on Friday, reaching $32.18. The stock had a trading volume of 818,644 shares, compared to its average volume of 661,288. Vericel Corporation has a 52 week low of $30.26 and a 52 week high of $63.00. The business's 50-day moving average price is $36.70 and its 200 day moving average price is $40.87. The stock has a market capitalization of $1.62 billion, a PE ratio of 268.19 and a beta of 1.33.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The company had revenue of $63.24 million during the quarter, compared to analysts' expectations of $64.61 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Vericel's quarterly revenue was up 20.1% compared to the same quarter last year. Analysts forecast that Vericel Corporation will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group decreased their target price on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Stephens reaffirmed an "overweight" rating and set a $67.00 price objective on shares of Vericel in a report on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Vericel presently has an average rating of "Buy" and a consensus target price of $60.40.

About Vericel

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.