Vericel (NASDAQ:VCEL) Shares Down 3.8% - Here's What Happened

Vericel Corporation (NASDAQ:VCEL - Get Free Report)'s share price traded down 3.8% during trading on Monday . The company traded as low as $41.12 and last traded at $41.05. 132,552 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 415,214 shares. The stock had previously closed at $42.67.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stephens reissued an "overweight" rating and set a $67.00 price target on shares of Vericel in a report on Monday. Truist Financial lowered their price objective on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. HC Wainwright reissued a "buy" rating and issued a $60.00 target price on shares of Vericel in a report on Friday, February 28th. Finally, Wall Street Zen cut shares of Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $61.14.

Vericel Stock Up 0.7%

The stock has a fifty day simple moving average of $41.43 and a 200 day simple moving average of $49.27. The firm has a market capitalization of $2.10 billion, a P/E ratio of 1,393.13 and a beta of 1.33.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its 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). Vericel had a net margin of 1.25% and a return on equity of 1.09%. The business had revenue of $52.60 million for the quarter, compared to the consensus estimate of $53.86 million. During the same period last year, the business posted ($0.08) EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts anticipate that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Vericel

In other news, CEO Dominick Colangelo sold 24,850 shares of Vericel stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $41.89, for a total value of $1,040,966.50. Following the sale, the chief executive officer now directly owns 260,354 shares of the company's stock, valued at approximately $10,906,229.06. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Vericel

Several institutional investors have recently added to or reduced their stakes in VCEL. Arcadia Investment Management Corp MI purchased a new stake in shares of Vericel during the 4th quarter worth approximately $48,000. GF Fund Management CO. LTD. bought a new stake in Vericel in the fourth quarter worth $57,000. Smartleaf Asset Management LLC raised its stake in Vericel by 511.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 1,058 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Vericel by 34.8% during the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 748 shares during 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.