TimesSquare Capital Management LLC Has $29.11 Million Stock Position in Vericel Corporation (NASDAQ:VCEL)

TimesSquare Capital Management LLC lifted its position in Vericel Corporation (NASDAQ:VCEL - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 652,465 shares of the biotechnology company's stock after purchasing an additional 20,305 shares during the quarter. TimesSquare Capital Management LLC owned 1.30% of Vericel worth $29,113,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. increased its holdings in Vericel by 1.6% during the 1st quarter. Congress Asset Management Co. now owns 1,476,718 shares of the biotechnology company's stock valued at $65,891,000 after purchasing an additional 22,579 shares in the last quarter. Wellington Management Group LLP raised its stake 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 buying an additional 701,064 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Vericel by 66.3% during the fourth quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company's stock worth $69,100,000 after purchasing an additional 501,736 shares during the period. Geode Capital Management LLC increased its stake in shares of Vericel by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,166,115 shares of the biotechnology company's stock valued at $64,046,000 after acquiring an additional 12,062 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Vericel by 25.4% during the fourth quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company's stock worth $61,630,000 after purchasing an additional 227,675 shares in the last quarter.

Analysts Set New Price Targets

VCEL has been the topic of several research reports. Stephens reaffirmed an "overweight" rating and issued a $67.00 price objective on shares of Vericel in a research report on Monday, June 16th. Truist Financial reduced their price target on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.14.

Vericel Trading Down 2.3%

NASDAQ VCEL traded down $0.86 during midday trading on Thursday, hitting $36.26. The company had a trading volume of 616,311 shares, compared to its average volume of 426,033. The company has a market capitalization of $1.83 billion, a PE ratio of 1,209.07 and a beta of 1.32. Vericel Corporation has a twelve month low of $35.96 and a twelve month high of $63.00. The firm has a 50-day moving average price of $41.67 and a 200-day moving average price of $47.03.

Vericel (NASDAQ:VCEL - Get Free Report) last issued 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 business had revenue of $52.60 million during the quarter, compared to analyst estimates of $53.86 million. Vericel had a net margin of 1.25% and a return on equity of 1.09%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) EPS. On average, equities analysts anticipate that Vericel Corporation will post 0.14 EPS for the current 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.