Zions Bancorporation National Association UT Purchases New Position 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 purchased a new position in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,191 shares of the biotechnology company's stock, valued at approximately $2,284,000. Zions Bancorporation National Association UT owned 0.10% of Vericel as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Vericel in the fourth quarter valued at $57,000. GAMMA Investing LLC raised its stake in Vericel by 34.8% in the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after buying an additional 748 shares in the last quarter. Gagnon Securities LLC acquired a new stake in shares of Vericel during the first quarter worth about $137,000. US Bancorp DE lifted its holdings 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 during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Vericel in the 4th quarter valued at about $215,000.

Vericel Trading Down 2.2%

Shares of NASDAQ:VCEL traded down $0.81 during trading on Monday, hitting $35.43. 523,894 shares of the stock were exchanged, compared to its average volume of 661,741. The company has a fifty day moving average price of $40.22 and a two-hundred day moving average price of $44.48. The company has a market cap of $1.79 billion, a PE ratio of 295.27 and a beta of 1.27. Vericel Corporation has a 12-month low of $33.09 and a 12-month high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $63.24 million for the quarter, compared to analyst estimates of $64.61 million. Vericel had a return on equity of 2.47% and a net margin of 2.85%. The company's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. Equities research analysts anticipate that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VCEL shares. Canaccord Genuity Group reduced their target price on Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a report on Friday, August 1st. Stephens reissued an "overweight" rating and issued a $67.00 target price on shares of Vericel in a report on Monday, June 16th. Finally, Wall Street Zen downgraded Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.33.

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.