Russell Investments Group Ltd. Purchases 31,635 Shares of Vericel Corporation $VCEL

Key Points

• Russell Investments Group Ltd. increased its ownership in Vericel Corporation by 58.3% during the first quarter, adding 31,635 shares to hold a total of 85,880 shares worth approximately $3.83 million.
• Vericel's recent earnings report indicated a net margin of 2.85% with a revenue increase of 20.1% year-over-year, despite missing analysts' expectations by $1.37 million.
• Equities analysts have mixed recommendations on Vericel, with some cutting ratings and price targets, while others maintain a consensus Buy rating with an average target price of $60.33.

Russell Investments Group Ltd. lifted its stake in Vericel Corporation (NASDAQ:VCEL - Free Report) by 58.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,880 shares of the biotechnology company's stock after acquiring an additional 31,635 shares during the period. Russell Investments Group Ltd. owned 0.17% of Vericel worth $3,832,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Vericel by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 270,154 shares of the biotechnology company's stock valued at $12,054,000 after acquiring an additional 7,222 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Vericel by 15.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 204,510 shares of the biotechnology company's stock valued at $9,125,000 after acquiring an additional 27,526 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Vericel by 34.8% in the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after acquiring an additional 748 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Vericel by 10.1% in the 1st quarter. Cerity Partners LLC now owns 65,384 shares of the biotechnology company's stock valued at $2,917,000 after acquiring an additional 5,988 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Vericel by 25.0% in the 1st quarter. LPL Financial LLC now owns 70,855 shares of the biotechnology company's stock valued at $2,921,000 after acquiring an additional 14,181 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on VCEL shares. Canaccord Genuity Group cut their price objective on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Wall Street Zen lowered Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Stephens reiterated an "overweight" rating and set a $67.00 price target on shares of Vericel in a report on Monday, June 16th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $60.40.

Vericel Price Performance

Shares of VCEL stock remained flat at $35.89 during trading hours on Thursday. The stock had a trading volume of 379,485 shares, compared to its average volume of 637,485. The company has a market capitalization of $1.81 billion, a PE ratio of 299.11 and a beta of 1.27. Vericel Corporation has a one year low of $33.09 and a one year high of $63.00. The business's fifty day simple moving average is $38.50 and its two-hundred day simple moving average is $42.60.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The business had revenue of $63.24 million for the quarter, compared to analysts' expectations of $64.61 million. Vericel had a return on equity of 2.47% and a net margin of 2.85%.Vericel's quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. Equities research analysts forecast that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

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.