Vericel (NASDAQ:VCEL) Stock Price Down 4.8% - Here's Why

Vericel Corporation (NASDAQ:VCEL - Get Free Report)'s stock price dropped 4.8% during mid-day trading on Tuesday . The company traded as low as $38.08 and last traded at $37.90. Approximately 46,138 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 420,806 shares. The stock had previously closed at $39.82.

Analysts Set New Price Targets

VCEL has been the topic of a number of recent analyst reports. Stephens reissued an "overweight" rating and issued a $67.00 price objective on shares of Vericel in a research note on Monday, June 16th. Wall Street Zen cut shares of Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.14.

Vericel Price Performance

The company has a market cap of $1.78 billion, a price-to-earnings ratio of 1,178.39 and a beta of 1.32. The business's fifty day moving average price is $41.67 and its 200 day moving average price is $47.03.

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

Institutional Investors Weigh In On Vericel

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Vericel during the fourth quarter worth about $57,000. Meeder Asset Management Inc. grew 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. GAMMA Investing LLC grew its position in Vericel by 34.8% in the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 748 shares in the last quarter. Gagnon Securities LLC bought a new stake in Vericel in the 1st quarter worth about $137,000. Finally, US Bancorp DE grew its position in Vericel by 29.9% in the 1st quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock worth $137,000 after purchasing an additional 706 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.