Vericel (NASDAQ:VCEL) Shares Down 5.8% - Here's Why

Key Points

• Vericel Corporation's shares fell by 5.8% during mid-day trading, with the stock closing at $30.65 after reaching a low of $30.63.
• Analyst ratings are mixed, with Canaccord Genuity lowering their price target to $58 while Stephens maintains an "overweight" rating with a target of $67.
• In its latest earnings report, Vericel reported a net income of ($0.01) per share, beating expectations, but revenue of $63.24 million fell short of the $64.61 million forecast.

Vericel Corporation (NASDAQ:VCEL - Get Free Report)'s share price dropped 5.8% during mid-day trading on Wednesday . The company traded as low as $30.63 and last traded at $30.65. Approximately 378,805 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 510,774 shares. The stock had previously closed at $32.54.

Analyst Upgrades and Downgrades

VCEL has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their price objective on shares of Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Stephens restated an "overweight" rating and set a $67.00 price target on shares of Vericel in a report on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Vericel presently has an average rating of "Buy" and an average target price of $60.40.

Vericel Price Performance

The firm has a market cap of $1.58 billion, a PE ratio of 260.94 and a beta of 1.33. The firm has a 50-day simple moving average of $37.26 and a 200 day simple moving average of $41.29.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $63.24 million during the quarter, compared to analyst estimates of $64.61 million. Vericel had a return on equity of 2.47% and a net margin of 2.85%.The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. Sell-side analysts forecast that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vericel

A number of hedge funds have recently bought and sold shares of VCEL. Ameritas Advisory Services LLC bought a new position in Vericel during the second quarter valued at approximately $30,000. GF Fund Management CO. LTD. purchased a new position in shares of Vericel in the 4th quarter worth $57,000. CWM LLC grew its holdings in shares of Vericel by 101.3% in the second quarter. CWM LLC now owns 1,379 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 694 shares during the period. AlphaQuest LLC purchased a new stake in Vericel during the second quarter valued at $60,000. Finally, Osaic Holdings Inc. lifted its holdings in 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 during the period.

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.

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