The Manufacturers Life Insurance Company purchased a new position in Vericel Corporation (NASDAQ:VCEL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 26,032 shares of the biotechnology company's stock, valued at approximately $1,158,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Vericel as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of VCEL. GAMMA Investing LLC boosted its stake in Vericel by 17.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,886 shares of the biotechnology company's stock valued at $84,000 after acquiring an additional 283 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Vericel by 13.7% during the second quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company's stock worth $125,000 after purchasing an additional 353 shares during the last quarter. California State Teachers Retirement System grew its stake in Vericel by 0.8% in the second quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company's stock worth $1,932,000 after purchasing an additional 382 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Vericel by 3.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,698 shares of the biotechnology company's stock valued at $421,000 after buying an additional 410 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Vericel by 2.2% during the second quarter. Handelsbanken Fonder AB now owns 23,079 shares of the biotechnology company's stock valued at $1,027,000 after buying an additional 500 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on VCEL. Weiss Ratings upgraded shares of Vericel from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Canaccord Genuity Group set a $60.00 target price on Vericel in a research note on Thursday, July 30th. HC Wainwright reiterated a "buy" rating and set a $70.00 price target on shares of Vericel in a research report on Tuesday, July 28th. Truist Financial restated a "buy" rating and set a $58.00 price objective (up from $54.00) on shares of Vericel in a research report on Friday, July 31st. Finally, Wall Street Zen raised Vericel from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.40.
Check Out Our Latest Report on Vericel
Vericel Stock Performance
Shares of VCEL stock opened at $40.19 on Friday. Vericel Corporation has a 1 year low of $28.95 and a 1 year high of $49.32. The stock has a market cap of $2.06 billion, a PE ratio of 85.51 and a beta of 1.04. The business's fifty day moving average is $44.72 and its 200-day moving average is $38.51.
Vericel (NASDAQ:VCEL - Get Free Report) last announced its earnings results on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share for the quarter, beating 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 business had revenue of $77.46 million during the quarter, compared to analysts' expectations of $72.70 million. During the same quarter last year, the business posted ($0.01) earnings per share. The company's quarterly revenue was up 22.5% on a year-over-year basis. Equities research analysts predict that Vericel Corporation will post 0.54 earnings per share for the current year.
Insider Buying and Selling at Vericel
In related news, insider Jonathan Hopper sold 10,000 shares of Vericel stock in a transaction on Friday, June 26th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the insider directly owned 75,753 shares in the company, valued at $3,408,885. The trade was a 11.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Siegal sold 4,500 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $48.90, for a total value of $220,050.00. Following the sale, the insider directly owned 1,078 shares of the company's stock, valued at approximately $52,714.20. This represents a 80.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,232 shares of company stock valued at $2,304,217 in the last ninety days. Company insiders own 7.60% of the company's stock.
Vericel Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding VCEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vericel Corporation (NASDAQ:VCEL - Free Report).
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