Federated Hermes Inc. Buys 71,386 Shares of Vericel Corporation (NASDAQ:VCEL)

Key Points

• Federated Hermes Inc. increased its stake in Vericel Corporation by 6.4% during the first quarter, now holding approximately 1,193,759 shares valued at $53.3 million.
• Analysts have mixed opinions on Vericel's stock, with ratings ranging from a "sell" to a "buy," and a consensus price target of $61.14.
• Vericel reported a quarterly loss of ($0.23) EPS, missing estimates, with revenues of $52.6 million, a slight increase from the previous year.

Federated Hermes Inc. lifted its holdings in Vericel Corporation (NASDAQ:VCEL - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,193,759 shares of the biotechnology company's stock after acquiring an additional 71,386 shares during the period. Federated Hermes Inc. owned approximately 2.38% of Vericel worth $53,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VCEL. GF Fund Management CO. LTD. acquired a new stake in shares of Vericel in the 4th quarter valued at about $57,000. Meeder Asset Management Inc. boosted its stake in Vericel by 8.4% during the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 183 shares during the last quarter. GAMMA Investing LLC boosted its stake in Vericel by 34.8% during the 1st 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 during the last quarter. Mackenzie Financial Corp acquired a new position in Vericel during the 4th quarter valued at about $215,000. Finally, Syon Capital LLC acquired a new position in Vericel during the 4th quarter valued at about $257,000.

Vericel Price Performance

Shares of NASDAQ VCEL traded up $0.69 during midday trading on Friday, reaching $35.63. The company's stock had a trading volume of 962,793 shares, compared to its average volume of 498,354. Vericel Corporation has a 12-month low of $33.09 and a 12-month high of $63.00. The firm has a 50 day moving average price of $40.93 and a 200-day moving average price of $45.72. The stock has a market capitalization of $1.79 billion, a P/E ratio of 1,188.06 and a beta of 1.32.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. Vericel had a return on equity of 1.09% and a net margin of 1.25%. The firm had revenue of $63.24 million for the quarter, compared to the consensus estimate of $64.61 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company's revenue was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Vericel Corporation will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VCEL shares. Wall Street Zen downgraded Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Canaccord Genuity Group cut their price target on Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a research note on Friday. Stephens reiterated an "overweight" rating and set a $67.00 price target on shares of Vericel in a research note on Monday, June 16th. Finally, Truist Financial cut their price target on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.86.

Vericel Company 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.