Vericel Corporation (NASDAQ:VCEL – Get Free Report) dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $44.89 and last traded at $44.6650. 204,923 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 612,188 shares. The stock had previously closed at $47.49.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on VCEL shares. Weiss Ratings upgraded shares of Vericel from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Wall Street Zen downgraded Vericel from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Truist Financial dropped their price objective on Vericel from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, HC Wainwright reissued a “buy” rating and set a $64.00 price objective on shares of Vericel in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Vericel currently has an average rating of “Hold” and an average target price of $52.50.
Read Our Latest Stock Analysis on VCEL
Vericel Trading Down 5.3%
Vericel (NASDAQ:VCEL – Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. The company had revenue of $68.43 million during the quarter, compared to analyst estimates of $63.68 million. Vericel had a net margin of 7.35% and a return on equity of 6.41%. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) earnings per share. As a group, equities research analysts forecast that Vericel Corporation will post 0.49 EPS for the current year.
Insider Transactions at Vericel
In other news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $44.75, for a total transaction of $223,750.00. Following the transaction, the chief financial officer directly owned 16,009 shares in the company, valued at approximately $716,402.75. This represents a 23.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Mark Hopper sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the insider directly owned 75,753 shares in the company, valued at approximately $3,408,885. This represents a 11.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 47,732 shares of company stock worth $2,084,167. 7.60% of the stock is currently owned by company insiders.
Institutional Trading of Vericel
Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Vericel by 17.7% during the second quarter. GAMMA Investing LLC now owns 1,886 shares of the biotechnology company’s stock valued at $84,000 after acquiring an additional 283 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Vericel by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 25,744 shares of the biotechnology company’s stock worth $927,000 after acquiring an additional 353 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Vericel by 13.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company’s stock valued at $125,000 after purchasing an additional 353 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Vericel by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company’s stock valued at $1,932,000 after purchasing an additional 382 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Vericel by 3.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,698 shares of the biotechnology company’s stock valued at $421,000 after purchasing an additional 410 shares during the last quarter.
Vericel Company 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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