Zions Bancorporation National Association UT Invests $2.28 Million in Vericel Corporation (NASDAQ:VCEL)

Key Points

• Zions Bancorporation has acquired a new position in Vericel Corporation (VCEL), purchasing 51,191 shares valued at approximately $2.28 million, representing about 0.10% ownership of the company.
• Several large investors have substantially increased their stakes in Vericel, including Wellington Management, which boosted its position by 119.3% during the fourth quarter.
• Vericel reported a quarterly earnings per share of ($0.01), exceeding analyst expectations and representing a 20.1% increase in revenue year-over-year, although it slightly missed revenue targets.

Zions Bancorporation National Association UT bought a new position in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 51,191 shares of the biotechnology company's stock, valued at approximately $2,284,000. Zions Bancorporation National Association UT owned approximately 0.10% of Vericel as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of VCEL. Wellington Management Group LLP increased its position in shares of Vericel by 119.3% in the fourth 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 during the period. Champlain Investment Partners LLC bought a new position in shares of Vericel in the fourth quarter worth $34,233,000. Raymond James Financial Inc. bought a new position in shares of Vericel in the fourth quarter worth $28,126,000. Geneva Capital Management LLC increased its position in shares of Vericel by 24.2% in the first 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 period. Finally, GW&K Investment Management LLC increased its position in shares of Vericel by 12.4% in the first 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 period.

Vericel Stock Up 2.8%

Shares of VCEL stock traded up $1.04 during mid-day trading on Wednesday, reaching $37.58. 273,735 shares of the stock traded hands, compared to its average volume of 498,385. The stock's fifty day simple moving average is $40.12 and its two-hundred day simple moving average is $44.42. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 312.98 and a beta of 1.27. Vericel Corporation has a 1-year low of $33.09 and a 1-year high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its quarterly earnings results 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 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 in the previous year, the firm earned ($0.10) earnings per share. The company's revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts anticipate that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stephens reiterated an "overweight" rating and issued a $67.00 target price on shares of Vericel in a research report on Monday, June 16th. Wall Street Zen cut Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Canaccord Genuity Group decreased 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. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Vericel currently has an average rating of "Moderate Buy" and a consensus target price of $60.33.

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.