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) shares traded down 5.8% during trading on Wednesday . The stock traded as low as $30.63 and last traded at $30.65. 378,805 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 510,774 shares. The stock had previously closed at $32.54.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group reduced their target price on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Stephens reissued an "overweight" rating and issued a $67.00 target price on shares of Vericel in a report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $60.40.

Vericel Stock Performance

The firm's 50-day moving average is $36.54 and its two-hundred day moving average is $40.67. The stock has a market cap of $1.59 billion, a P/E ratio of 261.86 and a beta of 1.33.

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, topping the consensus estimate of ($0.04) by $0.03. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The firm had revenue of $63.24 million during the quarter, compared to analysts' expectations of $64.61 million. During the same quarter in the previous year, the company posted ($0.10) EPS. Vericel's revenue was up 20.1% on a year-over-year basis. As a group, research analysts forecast that Vericel Corporation will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new position in Vericel in the 2nd quarter worth approximately $30,000. GF Fund Management CO. LTD. bought a new stake in shares of Vericel during the 4th quarter valued at $57,000. CWM LLC raised its position in shares of Vericel by 101.3% during the 2nd quarter. CWM LLC now owns 1,379 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 694 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Vericel during the 2nd quarter valued at $60,000. Finally, GAMMA Investing LLC raised its position in shares of Vericel by 34.8% during the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after acquiring 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.