Bank of New York Mellon Corp acquired a new stake in Vericel Corporation (NASDAQ:VCEL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 277,958 shares of the biotechnology company's stock, valued at approximately $12,366,000. Bank of New York Mellon Corp owned approximately 0.54% of Vericel as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Vericel by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 3,584,006 shares of the biotechnology company's stock worth $129,060,000 after purchasing an additional 68,368 shares in the last quarter. State Street Corp lifted its holdings in Vericel by 12.7% in the 4th quarter. State Street Corp now owns 3,163,922 shares of the biotechnology company's stock worth $113,933,000 after purchasing an additional 356,680 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Vericel by 9.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,463,312 shares of the biotechnology company's stock worth $79,245,000 after purchasing an additional 208,750 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Vericel by 0.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,222,107 shares of the biotechnology company's stock worth $80,018,000 after purchasing an additional 11,178 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in Vericel by 22.5% in the 4th quarter. GW&K Investment Management LLC now owns 1,580,967 shares of the biotechnology company's stock worth $56,931,000 after purchasing an additional 290,795 shares during the period.
Vericel Price Performance
Shares of VCEL opened at $40.50 on Wednesday. The business's 50 day simple moving average is $44.90 and its 200-day simple moving average is $38.42. Vericel Corporation has a 1 year low of $28.95 and a 1 year high of $49.32. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 86.17 and a beta of 1.05.
Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. Vericel had a net margin of 7.91% and a return on equity of 6.91%. The company had revenue of $77.46 million for the quarter, compared to the consensus estimate of $72.70 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Vericel's revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts expect that Vericel Corporation will post 0.54 earnings per share for the current year.
Insider Buying and Selling at Vericel
In related news, insider Jonathan Mark Hopper sold 10,000 shares of Vericel stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the insider owned 75,753 shares in the company, valued at approximately $3,408,885. This trade represents a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean C. Flynn sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $40.21, for a total value of $603,150.00. Following the sale, the insider owned 1,647 shares in the company, valued at approximately $66,225.87. This trade represents a 90.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,232 shares of company stock worth $2,304,217 in the last 90 days. 7.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $70.00 price objective on shares of Vericel in a research report on Tuesday, July 28th. Truist Financial restated a "buy" rating and set a $58.00 target price (up from $54.00) on shares of Vericel in a research report on Friday, July 31st. TD Cowen raised their target price on shares of Vericel from $55.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Vericel from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of Vericel from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.40.
Read Our Latest Stock Analysis on VCEL
Vericel Profile
(
Free Report)
Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company's expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.
Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.
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