Kornitzer Capital Management Inc. KS Has $928,000 Stock Position in Vericel Corporation (NASDAQ:VCEL)

Kornitzer Capital Management Inc. KS raised its position in Vericel Corporation (NASDAQ:VCEL - Free Report) by 73.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,800 shares of the biotechnology company's stock after purchasing an additional 8,800 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Vericel were worth $928,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Meeder Asset Management Inc. raised its holdings 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 buying an additional 183 shares during the period. Captrust Financial Advisors raised its holdings in 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 period. Avantax Advisory Services Inc. raised its holdings in Vericel by 1.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company's stock valued at $758,000 after buying an additional 234 shares during the period. Summit Investment Advisors Inc. raised its holdings in 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 period. Finally, Portside Wealth Group LLC raised its holdings in 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 period.

Vericel Stock Performance

Shares of NASDAQ:VCEL traded down $0.92 during trading on Friday, reaching $35.34. 545,056 shares of the stock were exchanged, compared to its average volume of 427,426. Vericel Corporation has a 12-month low of $35.18 and a 12-month high of $63.00. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 1,178.39 and a beta of 1.32. The firm's 50-day moving average price is $41.54 and its 200 day moving average price is $46.84.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly 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 company had revenue of $52.60 million during the quarter, compared to analysts' expectations of $53.86 million. Vericel had a return on equity of 1.09% and a net margin of 1.25%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. As a group, equities research analysts forecast that Vericel Corporation will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

VCEL has been the topic of a number of research analyst reports. Stephens reissued an "overweight" rating and set a $67.00 price objective on shares of Vericel in a report on Monday, June 16th. Truist Financial lowered their target price on shares of Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research 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 investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $61.14.

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.