Congress Asset Management Co. Cuts Position in Vericel Corporation $VCEL

Congress Asset Management Co. lowered its stake in Vericel Corporation (NASDAQ:VCEL – Free Report) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,552,066 shares of the biotechnology company’s stock after selling 364,229 shares during the quarter. Congress Asset Management Co.’s holdings in Vericel were worth $102,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VCEL. Tidal Investments LLC acquired a new position in shares of Vericel during the second quarter valued at about $215,000. MCF Advisors LLC grew its stake in shares of Vericel by 293.0% in the 2nd quarter. MCF Advisors LLC now owns 782 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 583 shares during the period. Scholtz & Company LLC acquired a new stake in shares of Vericel in the 2nd quarter valued at about $2,287,000. Engineers Gate Manager LP bought a new stake in Vericel in the 2nd quarter valued at about $747,000. Finally, NorthRock Partners LLC bought a new stake in Vericel in the 2nd quarter valued at about $211,000.

Analyst Upgrades and Downgrades

VCEL has been the topic of a number of research reports. Weiss Ratings raised Vericel from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Canaccord Genuity Group set a $60.00 price objective on Vericel in a report on Thursday, July 30th. TD Cowen upped their target price on Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $58.00 target price (up from $54.00) on shares of Vericel in a report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.40.

View Our Latest Report on VCEL

Vericel Trading Down 2.5%

Shares of VCEL traded down $1.02 on Tuesday, reaching $40.05. The company’s stock had a trading volume of 669,041 shares, compared to its average volume of 580,210. Vericel Corporation has a twelve month low of $28.95 and a twelve month high of $49.32. The stock has a market capitalization of $2.05 billion, a PE ratio of 85.21 and a beta of 1.02. The firm has a fifty day moving average of $41.96 and a 200-day moving average of $39.19.

Vericel (NASDAQ:VCEL – Get Free Report) last announced its earnings results on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. Vericel had a return on equity of 6.91% and a net margin of 7.91%.The company had revenue of $77.46 million for the quarter, compared to analysts’ expectations of $72.70 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Vericel’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities analysts anticipate that Vericel Corporation will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vericel news, insider Jonathan Siegal sold 4,500 shares of Vericel stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $48.90, for a total transaction of $220,050.00. Following the transaction, the insider directly owned 1,078 shares of the company’s stock, valued at $52,714.20. The trade was a 80.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.60% of the company’s stock.

About Vericel

(Free Report)

Vericel Corporation is a commercial-stage biopharmaceutical company focused on developing and marketing advanced cell therapies and specialty biologic products for the treatment of severe medical conditions. The company’s products are designed to support tissue repair and regeneration, with an emphasis on orthopedic and burn-care applications.

Vericel’s primary product is MACI, an autologous cellularized scaffold used to repair full-thickness cartilage defects in the knee. The therapy is made from a patient’s own cartilage cells, which are expanded and seeded onto a collagen membrane before implantation.

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Institutional Ownership by Quarter for Vericel (NASDAQ:VCEL)

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