Allspring Global Investments Holdings LLC Reduces Stake in Vericel Corporation (NASDAQ:VCEL)

Allspring Global Investments Holdings LLC lessened its position in Vericel Corporation (NASDAQ:VCEL - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,441 shares of the biotechnology company's stock after selling 11,632 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.50% of Vericel worth $10,747,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in shares of Vericel by 8.4% in the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after buying an additional 183 shares during the period. Atria Investments Inc increased its holdings in Vericel by 2.4% during the 4th quarter. Atria Investments Inc now owns 7,952 shares of the biotechnology company's stock worth $437,000 after purchasing an additional 184 shares during the period. Captrust Financial Advisors increased its holdings in Vericel by 3.4% during the 4th quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company's stock worth $336,000 after purchasing an additional 199 shares during the period. Avantax Advisory Services Inc. increased its holdings in Vericel by 1.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company's stock worth $758,000 after purchasing an additional 234 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in Vericel by 8.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company's stock worth $282,000 after purchasing an additional 405 shares during the period.

Vericel Trading Down 5.6%

Shares of NASDAQ VCEL traded down $2.33 during trading hours on Monday, reaching $39.41. The stock had a trading volume of 486,140 shares, compared to its average volume of 417,952. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 1,314.10 and a beta of 1.32. Vericel Corporation has a fifty-two week low of $37.39 and a fifty-two week high of $63.00. The firm has a 50-day moving average of $41.70 and a 200-day moving average of $47.89.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). The company had revenue of $52.60 million for the quarter, compared to analyst estimates of $53.86 million. Vericel had a return on equity of 1.09% and a net margin of 1.25%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. On average, equities analysts predict that Vericel Corporation will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on VCEL shares. Truist Financial lowered their price objective on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wall Street Zen cut Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Stephens reaffirmed an "overweight" rating and set a $67.00 price objective on shares of Vericel in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.14.

Insider Activity at Vericel

In other news, CEO Dominick Colangelo sold 24,850 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $41.89, for a total value of $1,040,966.50. Following the completion of the sale, the chief executive officer directly owned 260,354 shares of the company's stock, valued at $10,906,229.06. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is owned by corporate insiders.

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.