9,889 Shares in Vericel Corporation (NASDAQ:VCEL) Acquired by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC has invested approximately $478,000 in Vericel Corporation by purchasing 9,889 shares, marking a new position for the firm in the biotechnology sector.
• Several institutional investors, including Wellington Management Group and Champlain Investment Partners, have significantly increased their holdings in Vericel, reflecting growing interest in the company.
• Wall Street analysts have mixed ratings for Vericel, with a consensus rating of "Moderate Buy" and a price target ranging from $51.00 to $67.00.

Bryce Point Capital LLC purchased a new stake in Vericel Corporation (NASDAQ:VCEL - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 9,889 shares of the biotechnology company's stock, valued at approximately $478,000.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 183 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Vericel by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company's stock worth $336,000 after buying an additional 199 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Vericel by 8.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company's stock valued at $282,000 after buying an additional 405 shares in the last quarter. Portside Wealth Group LLC raised its position in shares of Vericel by 9.9% during the 1st quarter. Portside Wealth Group LLC now owns 6,546 shares of the biotechnology company's stock valued at $292,000 after buying an additional 591 shares in the last quarter. Finally, Mariner LLC lifted its holdings in shares of Vericel by 7.7% in the 4th quarter. Mariner LLC now owns 9,209 shares of the biotechnology company's stock valued at $506,000 after acquiring an additional 659 shares during the last quarter.

Vericel Price Performance

Shares of VCEL traded up $1.33 during mid-day trading on Monday, reaching $41.45. 500,353 shares of the company's stock traded hands, compared to its average volume of 508,903. The stock has a market cap of $2.09 billion, a P/E ratio of 1,382.13 and a beta of 1.32. The stock's 50-day moving average is $41.14 and its two-hundred day moving average is $45.97. Vericel Corporation has a 12 month low of $34.87 and a 12 month high of $63.00.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). The business had revenue of $52.60 million for 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%. Vericel's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. Research analysts predict that Vericel Corporation will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

VCEL has been the topic of several analyst reports. Wall Street Zen cut Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Stephens reissued an "overweight" rating and set a $67.00 target price on shares of Vericel in a research report on Monday, June 16th. Finally, Truist Financial decreased their price target on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.14.

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.