Vericel (NASDAQ:VCEL) Sets New 52-Week Low Following Analyst Downgrade

Key Points

• Vericel Corporation's stock reached a new 52-week low of $29.93 after BTIG Research downgraded it from a buy rating to a neutral rating, closing at $30.02.
• Despite the recent downgrade, four analysts continue to rate Vericel as a Buy, with an average target price of $60.40, while the company reported a 20.1% increase in quarterly revenue compared to the previous year.
• Significant hedge fund activity has been noted, with Valeo Financial Advisors and others increasing their stakes in Vericel during the second quarter, signaling ongoing institutional interest in the stock.

Vericel Corporation (NASDAQ:VCEL - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday after BTIG Research downgraded the stock from a buy rating to a neutral rating. The stock traded as low as $29.93 and last traded at $30.02, with a volume of 1683483 shares changing hands. The stock had previously closed at $33.23.

VCEL has been the subject of several other research reports. Canaccord Genuity Group reduced their price target 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 set a $67.00 target price on shares of Vericel in a report on Monday, June 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.40.

Institutional Investors Weigh In On Vericel

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its holdings in shares of Vericel by 13.7% in the second quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company's stock valued at $125,000 after acquiring an additional 353 shares in the last quarter. State of Wyoming boosted its holdings in shares of Vericel by 3.8% in the first quarter. State of Wyoming now owns 10,428 shares of the biotechnology company's stock valued at $465,000 after acquiring an additional 381 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Vericel by 0.8% in the second quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company's stock valued at $1,932,000 after acquiring an additional 382 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Vericel by 2.8% in the second quarter. Maryland State Retirement & Pension System now owns 14,795 shares of the biotechnology company's stock valued at $630,000 after acquiring an additional 408 shares in the last quarter. Finally, Scholtz & Company LLC boosted its holdings in shares of Vericel by 0.9% in the second quarter. Scholtz & Company LLC now owns 50,573 shares of the biotechnology company's stock valued at $2,152,000 after acquiring an additional 454 shares in the last quarter.

Vericel Stock Down 0.5%

The stock has a market cap of $1.60 billion, a PE ratio of 264.02 and a beta of 1.33. The business's fifty day moving average is $35.81 and its 200 day moving average is $40.15.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The company 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 quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share. As a group, analysts predict that Vericel Corporation will post 0.14 EPS for the current year.

Vericel Company 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.