Baker Avenue Asset Management LP lowered its stake in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 33.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,744 shares of the biotechnology company's stock after selling 14,480 shares during the quarter. Baker Avenue Asset Management LP owned about 0.06% of Vericel worth $1,283,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of VCEL. Congress Asset Management Co. increased its position in Vericel by 1.6% during the 1st quarter. Congress Asset Management Co. now owns 1,476,718 shares of the biotechnology company's stock worth $65,891,000 after purchasing an additional 22,579 shares in the last quarter. GW&K Investment Management LLC increased its position in Vericel by 12.4% during the 1st quarter. GW&K Investment Management LLC now owns 1,432,434 shares of the biotechnology company's stock worth $63,915,000 after purchasing an additional 158,470 shares in 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. Federated Hermes Inc. increased its position in Vericel by 6.4% during the 1st quarter. Federated Hermes Inc. now owns 1,193,759 shares of the biotechnology company's stock worth $53,266,000 after purchasing an additional 71,386 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Vericel by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,166,115 shares of the biotechnology company's stock worth $64,046,000 after acquiring an additional 12,062 shares during the period.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on VCEL shares. Wall Street Zen cut Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Truist Financial decreased their price target on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a report on Friday, April 11th. Stephens restated an "overweight" rating and issued a $67.00 price target on shares of Vericel in a report on Monday, June 16th. Finally, Canaccord Genuity Group decreased their price target on Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.86.
Check Out Our Latest Report on VCEL
Vericel Stock Up 5.5%
Shares of Vericel stock traded up $1.95 on Monday, hitting $37.58. 692,338 shares of the company's stock traded hands, compared to its average volume of 499,682. The stock has a market cap of $1.90 billion, a P/E ratio of 313.19 and a beta of 1.27. The firm's 50-day moving average is $40.83 and its 200 day moving average is $45.40. 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 announced its quarterly earnings data 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. Vericel had a return on equity of 2.47% and a net margin of 2.85%. The firm had revenue of $63.24 million for the quarter, compared to analysts' expectations of $64.61 million. During the same period last year, the business posted ($0.10) earnings per share. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. Equities research analysts forecast that Vericel Corporation will post 0.14 EPS for the current year.
Vericel Company Profile
(
Free Report)
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.
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