EFG International AG Purchases Shares of 127,642 Vericel Corporation $VCEL

Key Points

• EFG International AG acquired 127,642 Vericel shares valued at approximately $5.7 million, giving it a 0.25% stake. Several other institutional investors also initiated positions during the second quarter.
• Vericel reported stronger-than-expected quarterly results, with EPS of $0.04 versus a projected loss of $0.03 and revenue of $77.46 million, up 22.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $58.40, compared with the stock’s reported price of $43.22.

EFG International AG acquired a new stake in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 127,642 shares of the biotechnology company's stock, valued at approximately $5,674,000. EFG International AG owned about 0.25% of Vericel as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Vericel in the second quarter worth about $596,000. Osterweis Capital Management Inc. purchased a new position in Vericel during the second quarter valued at approximately $17,723,000. Legal & General Group Plc acquired a new position in Vericel in the second quarter valued at approximately $5,144,000. The Manufacturers Life Insurance Company acquired a new position in Vericel in the second quarter valued at approximately $1,158,000. Finally, Sanctuary Advisors LLC purchased a new stake in Vericel in the 2nd quarter worth approximately $276,000.

Vericel Stock Up 2.2%

VCEL opened at $43.22 on Wednesday. The company has a market cap of $2.21 billion, a PE ratio of 91.96 and a beta of 1.06. Vericel Corporation has a twelve month low of $28.95 and a twelve month high of $49.32. The company has a 50-day moving average price of $44.81 and a 200 day moving average price of $38.23.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VCEL shares. Weiss Ratings raised shares of Vericel from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, July 31st. TD Cowen boosted 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. HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Vericel in a report on Tuesday, July 28th. Truist Financial restated a "buy" rating and set a $58.00 price target (up from $54.00) on shares of Vericel in a research report on Friday, July 31st. Finally, Canaccord Genuity Group set a $60.00 price objective on shares of Vericel in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Vericel has a consensus rating of "Moderate Buy" and an average target price of $58.40.

Insider Transactions at Vericel

In related news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $44.75, for a total value of $223,750.00. Following the completion of the transaction, the chief financial officer directly owned 16,009 shares of the company's stock, valued at approximately $716,402.75. This represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Siegal sold 4,500 shares of Vericel stock in a transaction on 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 trade represents a 80.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 52,232 shares of company stock worth $2,304,217. 7.60% of the stock is owned by insiders.

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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