Ingalls & Snyder LLC Sells 761 Shares of Vericel Corporation $VCEL

Ingalls & Snyder LLC lowered its stake in shares of Vericel Corporation (NASDAQ:VCEL) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,820 shares of the biotechnology company’s stock after selling 761 shares during the quarter. Ingalls & Snyder LLC’s holdings in Vericel were worth $673,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VCEL. Allspring Global Investments Holdings LLC boosted its stake in shares of Vericel by 244.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 859,486 shares of the biotechnology company’s stock valued at $35,755,000 after purchasing an additional 610,045 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Vericel by 19.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,463,590 shares of the biotechnology company’s stock valued at $104,826,000 after purchasing an additional 401,990 shares during the last quarter. Geneva Capital Management LLC boosted its stake in shares of Vericel by 24.2% in the 1st quarter. Geneva Capital Management LLC now owns 1,365,744 shares of the biotechnology company’s stock valued at $60,939,000 after purchasing an additional 265,956 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Vericel by 18.0% in the 2nd quarter. Congress Asset Management Co. now owns 1,742,324 shares of the biotechnology company’s stock valued at $74,136,000 after purchasing an additional 265,606 shares during the last quarter. Finally, Aberdeen Group plc bought a new position in shares of Vericel in the 2nd quarter valued at about $8,902,000.

Vericel Price Performance

Shares of NASDAQ:VCEL opened at $36.32 on Monday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 302.69 and a beta of 1.39. The firm’s 50 day simple moving average is $33.68 and its 200 day simple moving average is $38.06. Vericel Corporation has a fifty-two week low of $29.24 and a fifty-two week high of $63.00.

Vericel (NASDAQ:VCEL) last announced its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) EPS 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 for the quarter, compared to the consensus estimate of $64.61 million. During the same period last year, the company posted ($0.10) EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts expect that Vericel Corporation will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on VCEL. Truist Financial reduced their target price on shares of Vericel from $46.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Zacks Research raised shares of Vericel from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Vericel in a research note on Friday. BTIG Research downgraded shares of Vericel from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 17th. Finally, Canaccord Genuity Group cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.40.

Vericel 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.