Deutsche Bank AG Purchases Shares of 64,404 Vericel Corporation $VCEL

Key Points

• Deutsche Bank initiated a position in Vericel by purchasing 64,404 shares worth approximately $2.87 million, representing about 0.13% of the company.
• Other institutions also increased exposure, including TimesSquare Capital Management’s new $24.5 million position and stake increases by State Street, GW&K Investment Management, and Goldman Sachs.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $58.40. Vericel also exceeded quarterly expectations, reporting $0.04 EPS and $77.46 million in revenue, while insiders sold more than 52,000 shares over the past three months.

Deutsche Bank AG purchased a new position in Vericel Corporation (NASDAQ:VCEL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 64,404 shares of the biotechnology company's stock, valued at approximately $2,865,000. Deutsche Bank AG owned about 0.13% of Vericel at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TimesSquare Capital Management LLC bought a new position in Vericel in the second quarter worth $24,463,000. State Street Corp increased 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 valued at $113,933,000 after buying an additional 356,680 shares during the period. GW&K Investment Management LLC increased its holdings 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 valued at $56,931,000 after buying an additional 290,795 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Vericel by 133.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 497,167 shares of the biotechnology company's stock valued at $17,903,000 after buying an additional 284,305 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Vericel during the 2nd quarter worth about $12,366,000.

Insiders Place Their Bets

In related news, insider Sean C. Flynn sold 15,000 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.64, for a total transaction of $684,600.00. Following the transaction, the insider owned 1,647 shares in the company, valued at $75,169.08. This represents a 90.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Siegal sold 4,500 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $48.90, for a total transaction of $220,050.00. Following the sale, the insider directly owned 1,078 shares in the company, valued at approximately $52,714.20. This represents a 80.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 52,232 shares of company stock valued at $2,304,217. 7.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VCEL has been the topic of several recent research reports. HC Wainwright reiterated a "buy" rating and set a $70.00 target price on shares of Vericel in a research report on Tuesday, July 28th. TD Cowen increased their price target on shares of Vericel from $55.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Truist Financial restated a "buy" rating and set a $58.00 price target (up from $54.00) on shares of Vericel in a research note on Friday, July 31st. Weiss Ratings raised Vericel from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, July 31st. Finally, Canaccord Genuity Group set a $60.00 target price on Vericel in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.40.

Vericel Price Performance

NASDAQ VCEL opened at $42.44 on Thursday. The stock's 50 day simple moving average is $44.87 and its 200 day simple moving average is $38.28. Vericel Corporation has a one year low of $28.95 and a one year high of $49.32. The firm has a market cap of $2.17 billion, a PE ratio of 90.30 and a beta of 1.06.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The firm had revenue of $77.46 million during the quarter, compared to the consensus estimate of $72.70 million. Vericel had a return on equity of 6.91% and a net margin of 7.91%.The business's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, equities analysts expect that Vericel Corporation will post 0.54 earnings per share for the current year.

Vericel Profile

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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