Vericel Corporation $VCEL Position Increased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has increased its holdings in Vericel Corporation by 5.8%, acquiring an additional 74,723 shares to total 1,363,644 shares valued at approximately $60.85 million.
• Despite mixed ratings from analysts, Vericel currently holds an average rating of "Buy" with a consensus target price of $60.33.
• Vericel reported a revenue of $63.24 million for the quarter, showing a 20.1% increase year-over-year, and beat consensus EPS estimates with a loss of only $0.01 compared to expectations of a loss of $0.04.

Wellington Management Group LLP grew its position in Vericel Corporation (NASDAQ:VCEL - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,363,644 shares of the biotechnology company's stock after purchasing an additional 74,723 shares during the period. Wellington Management Group LLP owned approximately 2.72% of Vericel worth $60,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its position in Vericel by 1.6% in the 1st quarter. Invesco Ltd. now owns 2,273,494 shares of the biotechnology company's stock worth $101,443,000 after purchasing an additional 35,345 shares during the last quarter. Congress Asset Management Co. grew its position in Vericel by 1.6% in 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 during the last quarter. GW&K Investment Management LLC grew its position in Vericel by 12.4% in 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 during the last quarter. Geneva Capital Management LLC grew its position in Vericel by 24.2% in the 1st quarter. Geneva Capital Management LLC now owns 1,365,744 shares of the biotechnology company's stock worth $60,939,000 after purchasing an additional 265,956 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Vericel by 6.4% in 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 during the last quarter.

Wall Street Analyst Weigh In

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

Vericel Stock Down 0.5%

NASDAQ:VCEL traded down $0.17 during trading hours on Thursday, reaching $35.73. 82,622 shares of the company's stock were exchanged, compared to its average volume of 501,504. The company has a market capitalization of $1.80 billion, a P/E ratio of 297.65 and a beta of 1.27. Vericel Corporation has a 12 month low of $33.09 and a 12 month high of $63.00. The business's 50-day simple moving average is $38.62 and its two-hundred day simple moving average is $42.76.

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 analysts' consensus estimates of ($0.04) by $0.03. The firm had revenue of $63.24 million during the quarter, compared to analysts' expectations of $64.61 million. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. As a group, sell-side analysts anticipate that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

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.