Lord Abbett & CO. LLC Has $5.41 Million Stake in Vericel Corporation $VCEL

Key Points

• Lord Abbett & CO. LLC increased its ownership in Vericel Corporation by 7.5%, now holding approximately 121,278 shares valued at around $5.4 million.
• Vericel reported a revenue increase of 20.1% year-over-year, totaling $63.24 million for the most recent quarter, with earnings per share of ($0.01) exceeding analysts' estimates.
• Analysts have varied ratings for Vericel, with one analyst rating it as a sell and six recommending a buy, resulting in an average consensus price target of $60.33.

Lord Abbett & CO. LLC raised its position in Vericel Corporation (NASDAQ:VCEL - Free Report) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,278 shares of the biotechnology company's stock after purchasing an additional 8,488 shares during the period. Lord Abbett & CO. LLC owned approximately 0.24% of Vericel worth $5,411,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of VCEL. Captrust Financial Advisors increased its position in shares of Vericel by 3.4% during the fourth quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company's stock worth $336,000 after acquiring an additional 199 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Vericel by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company's stock valued at $282,000 after acquiring an additional 405 shares during the last quarter. Portside Wealth Group LLC lifted its stake in Vericel by 9.9% in the first quarter. Portside Wealth Group LLC now owns 6,546 shares of the biotechnology company's stock valued at $292,000 after acquiring an additional 591 shares during the last quarter. Mariner LLC lifted its stake in Vericel by 7.7% in the fourth quarter. Mariner LLC now owns 9,209 shares of the biotechnology company's stock valued at $506,000 after acquiring an additional 659 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Vericel by 29.9% in the first quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock valued at $137,000 after acquiring an additional 706 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VCEL. Stephens restated an "overweight" rating and set a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. Wall Street Zen lowered shares of Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Canaccord Genuity Group decreased their price target on shares of Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $60.33.

Vericel Trading Down 2.2%

VCEL traded down $0.81 during trading on Wednesday, reaching $35.36. 269,991 shares of the company's stock were exchanged, compared to its average volume of 499,001. Vericel Corporation has a one year low of $33.09 and a one year high of $63.00. The stock has a market capitalization of $1.78 billion, a PE ratio of 294.69 and a beta of 1.27. The firm has a fifty day moving average price of $39.38 and a two-hundred day moving average price of $43.63.

Vericel (NASDAQ:VCEL - Get Free Report) last posted 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. The firm had revenue of $63.24 million for 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 for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Sell-side analysts expect that Vericel Corporation will post 0.14 earnings per share for the current year.

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.