Royal Bank of Canada Has $42.41 Million Stock Holdings in Vericel Corporation $VCEL

Key Points

• Royal Bank of Canada increased its stake in Vericel Corporation by 6.2% in the first quarter, holding 950,486 shares valued at approximately $42.41 million.
• Vericel's stock is currently trading at $34.05 with a market cap of $1.72 billion, experiencing a quarterly revenue growth of 20.1% year-over-year.
• Various institutional investors also grew their stakes in Vericel, with some notable increases including 34.8% by GAMMA Investing LLC and 15.6% by Envestnet Asset Management Inc.

Royal Bank of Canada lifted its holdings in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 950,486 shares of the biotechnology company's stock after purchasing an additional 55,436 shares during the quarter. Royal Bank of Canada owned about 1.90% of Vericel worth $42,410,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Vericel by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 270,154 shares of the biotechnology company's stock worth $12,054,000 after purchasing an additional 7,222 shares during the period. Envestnet Asset Management Inc. raised its holdings in Vericel by 15.6% in the first quarter. Envestnet Asset Management Inc. now owns 204,510 shares of the biotechnology company's stock valued at $9,125,000 after buying an additional 27,526 shares during the period. GAMMA Investing LLC raised its holdings in Vericel by 34.8% in the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after buying an additional 748 shares during the period. Cerity Partners LLC raised its holdings in Vericel by 10.1% in the first quarter. Cerity Partners LLC now owns 65,384 shares of the biotechnology company's stock valued at $2,917,000 after buying an additional 5,988 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Vericel by 6.4% in the first quarter. Federated Hermes Inc. now owns 1,193,759 shares of the biotechnology company's stock valued at $53,266,000 after buying an additional 71,386 shares during the period.

Analyst Ratings Changes

VCEL has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Stephens reiterated an "overweight" rating and issued a $67.00 target price on shares of Vericel in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $60.40.

Vericel Stock Performance

Vericel stock traded down $1.57 during trading hours on Wednesday, hitting $30.98. 597,708 shares of the stock were exchanged, compared to its average volume of 511,809. The stock has a market capitalization of $1.56 billion, a P/E ratio of 257.65 and a beta of 1.33. The business's 50-day moving average is $37.26 and its two-hundred day moving average is $41.29. Vericel Corporation has a 12 month low of $30.26 and a 12 month high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. Vericel had a return on equity of 2.47% and a net margin of 2.85%.The company had revenue of $63.24 million during the quarter, compared to analyst estimates of $64.61 million. During the same period last year, the company posted ($0.10) earnings per share. The firm's quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Vericel Corporation will post 0.14 earnings per share 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.