Federated Hermes Inc. Has $53.27 Million Holdings in 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. grew its holdings in Vericel Corporation (NASDAQ:VCEL - Free Report) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,193,759 shares of the biotechnology company's stock after acquiring an additional 71,386 shares during the quarter. Federated Hermes Inc. owned 2.38% of Vericel worth $53,266,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in Vericel in the fourth quarter valued at about $538,000. LPL Financial LLC grew its holdings in shares of Vericel by 27.6% during the 4th quarter. LPL Financial LLC now owns 56,674 shares of the biotechnology company's stock valued at $3,271,000 after purchasing an additional 12,268 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Vericel by 26.5% during the 4th quarter. JPMorgan Chase & Co. now owns 571,194 shares of the biotechnology company's stock valued at $31,364,000 after purchasing an additional 119,574 shares during the last quarter. Wellington Management Group LLP increased its position in Vericel by 119.3% during the 4th quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock worth $70,775,000 after purchasing an additional 701,064 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Vericel by 8.4% in 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.

Vericel Stock Performance

Shares of VCEL stock traded up $0.69 on Friday, hitting $35.63. The company had a trading volume of 962,793 shares, compared to its average volume of 600,352. Vericel Corporation has a twelve month low of $33.09 and a twelve month high of $63.00. The firm has a market cap of $1.79 billion, a P/E ratio of 296.94 and a beta of 1.27. The stock's 50-day moving average is $40.83 and its two-hundred day moving average is $45.48.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $63.24 million during the quarter, compared to analyst estimates of $64.61 million. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The company's revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. Equities research analysts predict that Vericel Corporation will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

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