Envestnet Asset Management Inc. Buys 27,526 Shares of Vericel Corporation (NASDAQ:VCEL)

Envestnet Asset Management Inc. grew its stake in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 204,510 shares of the biotechnology company's stock after buying an additional 27,526 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.41% of Vericel worth $9,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Vericel by 119.3% during the fourth quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock worth $70,775,000 after purchasing an additional 701,064 shares during the period. Champlain Investment Partners LLC acquired a new position in Vericel in the fourth quarter valued at $34,233,000. Raymond James Financial Inc. acquired a new position in Vericel in the fourth quarter valued at $28,126,000. Federated Hermes Inc. lifted its holdings in Vericel by 25.4% in the fourth quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company's stock valued at $61,630,000 after buying an additional 227,675 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Vericel by 5,916.5% in the first quarter. GAMMA Investing LLC now owns 129,175 shares of the biotechnology company's stock valued at $5,764,000 after buying an additional 127,028 shares during the period.

Vericel Stock Up 1.0%

VCEL stock traded up $0.40 during trading on Friday, reaching $40.12. The stock had a trading volume of 345,053 shares, compared to its average volume of 548,394. Vericel Corporation has a one year low of $34.87 and a one year high of $63.00. The company's 50 day moving average is $41.16 and its two-hundred day moving average is $46.28. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 1,337.78 and a beta of 1.32.

Vericel (NASDAQ:VCEL - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). The company 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 firm'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) earnings per share. As a group, research analysts predict that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VCEL shares. Wall Street Zen lowered shares of Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Truist Financial decreased their price target on shares of Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Stephens reaffirmed an "overweight" rating and issued a $67.00 price target on shares of Vericel in a research note 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.14.

About Vericel

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.