Rice Hall James & Associates LLC purchased a new position in shares of Vericel Corporation (NASDAQ:VCEL – Free Report) in the second quarter, Holdings Channel.com reports. The fund purchased 138,840 shares of the biotechnology company’s stock, valued at approximately $6,177,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. GW&K Investment Management LLC raised its stake in Vericel by 22.5% during the fourth quarter. GW&K Investment Management LLC now owns 1,580,967 shares of the biotechnology company’s stock worth $56,931,000 after acquiring an additional 290,795 shares in the last quarter. Granite Investment Partners LLC boosted its stake in shares of Vericel by 66.6% in the 1st quarter. Granite Investment Partners LLC now owns 120,236 shares of the biotechnology company’s stock valued at $3,868,000 after purchasing an additional 48,056 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Vericel by 19.7% during the 1st quarter. Bank of America Corp DE now owns 1,098,771 shares of the biotechnology company’s stock valued at $35,347,000 after purchasing an additional 180,761 shares during the last quarter. Madison Asset Management LLC bought a new stake in shares of Vericel during the 4th quarter valued at approximately $1,819,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Vericel by 2,152.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,885 shares of the biotechnology company’s stock worth $1,652,000 after purchasing an additional 43,848 shares in the last quarter.
Insider Buying and Selling at Vericel
In other news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of Vericel stock in a transaction on Friday, June 26th. The shares were sold at an average price of $44.75, for a total transaction of $223,750.00. Following the transaction, the chief financial officer owned 16,009 shares in the company, valued at approximately $716,402.75. The trade was a 23.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Siegal sold 4,500 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $48.90, for a total transaction of $220,050.00. Following the completion of the sale, the insider directly owned 1,078 shares in the company, valued at approximately $52,714.20. This represents a 80.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,232 shares of company stock worth $2,304,217 over the last ninety days. Insiders own 7.60% of the company’s stock.
Analysts Set New Price Targets
Vericel Price Performance
Vericel stock opened at $43.59 on Tuesday. The business has a 50 day moving average of $44.19 and a 200-day moving average of $37.95. The company has a market capitalization of $2.23 billion, a P/E ratio of 92.75 and a beta of 1.06. Vericel Corporation has a 1 year low of $28.95 and a 1 year high of $49.32.
Vericel (NASDAQ:VCEL – Get Free Report) last posted its earnings results on Thursday, July 30th. The biotechnology company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. Vericel had a net margin of 7.91% and a return on equity of 6.91%. The business had revenue of $77.46 million for the quarter, compared to the consensus estimate of $72.70 million. During the same period last year, the company earned ($0.01) EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Vericel Corporation will post 0.54 EPS for the current year.
Vericel Profile
Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.
Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.
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