Vericel Corporation $VCEL Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. decreased its position in Vericel Corporation by 30.0%, selling 153,558 shares and retaining 358,661 shares worth approximately $16 million.
• Recent upgrades and downgrades by analysts include a downgrade from Wall Street Zen to a "sell" rating and a price target reduction by Canaccord Genuity Group from $61 to $58.
• Vericel's latest earnings report showed a 20.1% year-over-year revenue increase, with $63.24 million in revenue, beating estimates but reporting a modest EPS of ($0.01).

Raymond James Financial Inc. cut its stake in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 30.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 358,661 shares of the biotechnology company's stock after selling 153,558 shares during the period. Raymond James Financial Inc. owned approximately 0.72% of Vericel worth $16,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Vericel during the 4th quarter worth approximately $57,000. GAMMA Investing LLC raised its position in shares of Vericel by 34.8% in the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 748 shares in the last quarter. Gagnon Securities LLC acquired a new position in shares of Vericel in the 1st quarter valued at approximately $137,000. US Bancorp DE raised its position in shares of Vericel by 29.9% in the 1st quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock valued at $137,000 after purchasing an additional 706 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Vericel in the 4th quarter valued at approximately $215,000.

Vericel Stock Down 3.9%

NASDAQ VCEL traded down $1.41 during trading hours on Tuesday, hitting $34.95. The company had a trading volume of 191,967 shares, compared to its average volume of 500,323. Vericel Corporation has a fifty-two week low of $33.09 and a fifty-two week high of $63.00. The business has a fifty day simple moving average of $38.28 and a 200-day simple moving average of $42.12. The firm has a market cap of $1.76 billion, a P/E ratio of 292.03 and a beta of 1.33.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share 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 analyst estimates of $64.61 million. During the same period last year, the company earned ($0.10) earnings per share. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts forecast that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VCEL shares. Wall Street Zen lowered Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Canaccord Genuity Group cut their target price on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Stephens reaffirmed an "overweight" rating and issued a $67.00 target price on shares of Vericel in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $60.40.

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.