Vericel (NASDAQ:VCEL) Hits New 52-Week Low - What's Next?

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

Analysts Set New Price Targets

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

Vericel Stock Down 2.5%

The stock has a market capitalization of $1.78 billion, a PE ratio of 1,178.39 and a beta of 1.32. The stock's 50 day moving average price is $41.54 and its 200-day moving average price is $46.90.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.14). The firm had revenue of $52.60 million during the quarter, compared to the consensus estimate of $53.86 million. Vericel had a net margin of 1.25% and a return on equity of 1.09%. The business's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, sell-side analysts predict that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vericel

Several hedge funds have recently modified their holdings of VCEL. Meeder Asset Management Inc. boosted 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 in the last quarter. Captrust Financial Advisors lifted its position in shares of Vericel by 3.4% during 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 in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Vericel by 1.7% during 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 in the last quarter. State of Wyoming lifted its position in shares of Vericel by 3.8% during the 1st quarter. State of Wyoming now owns 10,428 shares of the biotechnology company's stock valued at $465,000 after buying an additional 381 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Vericel by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company's stock valued at $282,000 after purchasing an additional 405 shares in the last quarter.

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.