Vericel Corporation (NASDAQ:VCEL) Shares Purchased by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC increased its stake in Vericel Corporation by 24.2% during the first quarter, acquiring an additional 265,956 shares, making it the 28th largest holding in their portfolio.
• Vericel reported earnings of ($0.01) earnings per share for the last quarter, surpassing analyst expectations, with a year-over-year revenue increase of 20.1% to $63.24 million.
• Despite some positive metrics, analysts have mixed opinions on Vericel, with a consensus rating of "Moderate Buy" and a target price of $59.86, reflecting varied views on its future performance.

Geneva Capital Management LLC grew its holdings in Vericel Corporation (NASDAQ:VCEL - Free Report) by 24.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,365,744 shares of the biotechnology company's stock after buying an additional 265,956 shares during the period. Vericel accounts for approximately 1.1% of Geneva Capital Management LLC's portfolio, making the stock its 28th largest position. Geneva Capital Management LLC owned about 2.72% of Vericel worth $60,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VCEL. US Bancorp DE raised its position in shares of Vericel by 29.9% during the 1st quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock worth $137,000 after purchasing an additional 706 shares during the last quarter. Federated Hermes Inc. increased its holdings in Vericel by 6.4% in the 1st quarter. Federated Hermes Inc. now owns 1,193,759 shares of the biotechnology company's stock valued at $53,266,000 after purchasing an additional 71,386 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Vericel by 585.8% during the 1st quarter. Meeder Asset Management Inc. now owns 16,165 shares of the biotechnology company's stock valued at $721,000 after buying an additional 13,808 shares during the last quarter. Bryce Point Capital LLC bought a new position in shares of Vericel in the 1st quarter worth about $478,000. Finally, LPL Financial LLC increased its holdings in shares of Vericel by 25.0% in the 1st quarter. LPL Financial LLC now owns 70,855 shares of the biotechnology company's stock worth $2,921,000 after acquiring an additional 14,181 shares during the period.

Vericel Stock Down 2.0%

Shares of Vericel stock traded down $0.76 on Tuesday, reaching $36.82. The company's stock had a trading volume of 489,419 shares, compared to its average volume of 658,810. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 306.86 and a beta of 1.27. The firm's fifty day simple moving average is $40.76 and its two-hundred day simple moving average is $45.25. Vericel Corporation has a 52 week low of $33.09 and a 52 week high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $63.24 million for the quarter, compared to analysts' expectations of $64.61 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, research analysts predict that Vericel Corporation will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stephens reiterated an "overweight" rating and issued a $67.00 target price on shares of Vericel in a report on Monday, June 16th. 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 report on Friday. Truist Financial dropped their price objective on shares of Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen cut shares of Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Vericel currently has an average rating of "Moderate Buy" and a consensus target price of $59.86.

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.