Allspring Global Investments Holdings LLC Acquires 610,045 Shares of Vericel Corporation $VCEL

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Vericel Corporation by 244.6% during Q2, owning 859,486 shares valued at approximately $35.76 million.
• Vericel's latest quarterly earnings report revealed a revenue of $63.24 million, which was under analysts' expectations of $64.61 million, but marked a year-over-year growth of 20.1%.
• Analysts have mixed opinions on Vericel, with four recommending a "Buy," one a "Hold," and another a "Sell," resulting in a current consensus rating of "Moderate Buy" with a price target of $58.40.

Allspring Global Investments Holdings LLC raised its holdings in Vericel Corporation (NASDAQ:VCEL - Free Report) by 244.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 859,486 shares of the biotechnology company's stock after acquiring an additional 610,045 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.71% of Vericel worth $35,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. boosted its stake in 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 acquiring an additional 35,345 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of Vericel by 18.0% during the second quarter. Congress Asset Management Co. now owns 1,742,324 shares of the biotechnology company's stock worth $74,136,000 after purchasing an additional 265,606 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of Vericel by 12.4% during the first quarter. GW&K Investment Management LLC now owns 1,432,434 shares of the biotechnology company's stock worth $63,915,000 after purchasing an additional 158,470 shares in the last quarter. Geneva Capital Management LLC boosted its position in shares of Vericel by 24.2% during the first quarter. Geneva Capital Management LLC now owns 1,365,744 shares of the biotechnology company's stock worth $60,939,000 after purchasing an additional 265,956 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Vericel by 5.8% during the first quarter. Wellington Management Group LLP now owns 1,363,644 shares of the biotechnology company's stock worth $60,846,000 after purchasing an additional 74,723 shares in the last quarter.

Vericel Trading Down 3.0%

VCEL opened at $33.59 on Thursday. The stock has a market capitalization of $1.69 billion, a P/E ratio of 279.94 and a beta of 1.39. Vericel Corporation has a 12 month low of $29.24 and a 12 month high of $63.00. The firm's fifty day simple moving average is $33.74 and its 200 day simple moving average is $38.41.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BTIG Research cut shares of Vericel from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 17th. Canaccord Genuity Group reduced their price target on shares of Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Truist Financial reduced their price target on shares of Vericel from $46.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Vericel in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.40.

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.

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