Townsquare Capital LLC Has $3 Million Stake in Vericel Corporation (NASDAQ:VCEL)

Key Points

• Townsquare Capital LLC has increased its stake in Vericel Corporation by 12.2%, purchasing an additional 7,312 shares, bringing its total holdings to 67,248 shares valued at approximately $3 million.
• Wellington Management Group LLP significantly boosted its position in Vericel by 119.3% in the last quarter, now owning over 1.28 million shares worth around $70.8 million.
• Vericel's stock has seen a decline of 2.2%, with a market cap of $1.79 billion, and is currently trading at $35.43, down from a twelve-month high of $63.00.

Townsquare Capital LLC increased its holdings in Vericel Corporation (NASDAQ:VCEL - Free Report) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,248 shares of the biotechnology company's stock after buying an additional 7,312 shares during the period. Townsquare Capital LLC owned 0.13% of Vericel worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in Vericel during the fourth quarter valued at approximately $57,000. GAMMA Investing LLC raised its position in Vericel by 34.8% during the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 748 shares in the last quarter. Gagnon Securities LLC acquired a new position in Vericel during the first quarter valued at approximately $137,000. US Bancorp DE raised its position in Vericel by 29.9% during the first quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock valued at $137,000 after purchasing an additional 706 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Vericel during the fourth quarter valued at approximately $215,000.

Vericel Stock Down 5.7%

Shares of NASDAQ VCEL traded down $2.16 during midday trading on Thursday, reaching $35.77. 442,842 shares of the company were exchanged, compared to its average volume of 500,468. The stock's 50-day moving average price is $39.86 and its 200-day moving average price is $44.21. The stock has a market cap of $1.80 billion, a P/E ratio of 298.11 and a beta of 1.27. Vericel Corporation has a one year low of $33.09 and a one year high of $63.00.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on VCEL shares. Wall Street Zen downgraded shares of Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Stephens reaffirmed an "overweight" rating and set a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. Finally, Canaccord Genuity Group decreased their target price on shares of Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Vericel has an average rating of "Moderate Buy" and a consensus price target of $60.33.

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.