Townsquare Capital LLC Grows Stock Holdings 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 grew its position in Vericel Corporation (NASDAQ:VCEL - Free Report) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,248 shares of the biotechnology company's stock after purchasing an additional 7,312 shares during the quarter. Townsquare Capital LLC owned approximately 0.13% of Vericel worth $3,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors grew its position in shares of Vericel by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company's stock valued at $336,000 after buying an additional 199 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Vericel by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company's stock valued at $282,000 after buying an additional 405 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of Vericel by 9.9% in the 1st quarter. Portside Wealth Group LLC now owns 6,546 shares of the biotechnology company's stock valued at $292,000 after buying an additional 591 shares during the last quarter. Mariner LLC grew its position in shares of Vericel by 7.7% in the 4th quarter. Mariner LLC now owns 9,209 shares of the biotechnology company's stock valued at $506,000 after buying an additional 659 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Vericel by 29.9% in the 1st quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock valued at $137,000 after buying an additional 706 shares during the last quarter.

Vericel Price Performance

VCEL traded up $0.51 during midday trading on Friday, reaching $36.28. 654,735 shares of the company's stock were exchanged, compared to its average volume of 628,305. The stock has a market capitalization of $1.83 billion, a PE ratio of 302.36 and a beta of 1.27. The business's 50-day moving average price is $39.72 and its 200 day moving average price is $44.05. Vericel Corporation has a 1-year low of $33.09 and a 1-year 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $63.24 million during the quarter, compared to analysts' expectations of $64.61 million. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The firm's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share. As a group, analysts expect that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VCEL. Stephens reissued an "overweight" rating and set a $67.00 price objective on shares of Vericel in a research report on Monday, June 16th. Canaccord Genuity Group lowered their price objective on shares of Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded 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 six have assigned a buy rating to the stock. According to MarketBeat.com, Vericel has an average rating of "Moderate Buy" and a consensus target price of $60.33.

Vericel 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.