Vericel (NASDAQ:VCEL) Hits New 52-Week Low - Here's What Happened

Shares of Vericel Corporation (NASDAQ:VCEL - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $36.94 and last traded at $37.10, with a volume of 645691 shares trading hands. The stock had previously closed at $39.82.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VCEL shares. Truist Financial lowered their price target on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a report on Friday, April 11th. Stephens restated an "overweight" rating and issued a $67.00 price objective on shares of Vericel in a research report on Monday, June 16th. Finally, Wall Street Zen cut Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.14.

Vericel Price Performance

The business has a fifty day moving average of $41.67 and a 200 day moving average of $47.03. The stock has a market cap of $1.79 billion, a PE ratio of 1,188.20 and a beta of 1.32.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.14). The company had revenue of $52.60 million during the quarter, compared to the consensus estimate of $53.86 million. Vericel had a return on equity of 1.09% and a net margin of 1.25%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. On average, equities research analysts expect that Vericel Corporation will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Vericel

A number of institutional investors have recently added to or reduced their stakes in VCEL. Meeder Asset Management Inc. raised its position in Vericel by 8.4% in the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 183 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Vericel by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company's stock valued at $336,000 after buying an additional 199 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Vericel by 1.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company's stock valued at $758,000 after buying an additional 234 shares during the period. State of Wyoming boosted its stake in Vericel by 3.8% in the 1st quarter. State of Wyoming now owns 10,428 shares of the biotechnology company's stock worth $465,000 after purchasing an additional 381 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in Vericel by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company's stock worth $282,000 after purchasing an additional 405 shares during the period.

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.