Bank of New York Mellon Corp Sells 9,409 Shares of Vericel Corporation (NASDAQ:VCEL)

Bank of New York Mellon Corp decreased its position in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 299,963 shares of the biotechnology company's stock after selling 9,409 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.60% of Vericel worth $13,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VCEL. GF Fund Management CO. LTD. bought a new position in Vericel in the 4th quarter worth about $57,000. Meeder Asset Management Inc. boosted its stake in Vericel by 8.4% in the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 183 shares during the period. GAMMA Investing LLC boosted its stake in Vericel by 34.8% in the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 748 shares during the period. Xponance Inc. bought a new position in Vericel in the 4th quarter worth about $214,000. Finally, Mackenzie Financial Corp bought a new position in Vericel in the 4th quarter worth about $215,000.

Wall Street Analyst Weigh In

VCEL has been the subject of several analyst reports. Truist Financial cut their target price on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wall Street Zen downgraded Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Stephens reaffirmed an "overweight" rating and issued a $67.00 price target on shares of Vericel in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.14.

Vericel Stock Down 2.5%

NASDAQ:VCEL opened at $35.34 on Monday. The business's 50-day moving average price is $41.54 and its two-hundred day moving average price is $46.79. Vericel Corporation has a twelve month low of $35.18 and a twelve month high of $63.00. The stock has a market cap of $1.78 billion, a P/E ratio of 1,178.39 and a beta of 1.32.

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

Vericel Company Profile

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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