Virtus Advisers LLC purchased a new stake in shares of Vericel Corporation (NASDAQ:VCEL – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,570 shares of the biotechnology company’s stock, valued at approximately $693,000.
Other large investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in shares of Vericel during the 4th quarter worth approximately $27,000. Quarry LP bought a new stake in shares of Vericel during the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its stake in shares of Vericel by 116.5% in the fourth quarter. Farther Finance Advisors LLC now owns 970 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 522 shares in the last quarter. Truvestments Capital LLC raised its stake in shares of Vericel by 175.4% in the fourth quarter. Truvestments Capital LLC now owns 1,534 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 977 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Vericel in the fourth quarter worth $58,000.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Weiss Ratings upgraded shares of Vericel from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, July 31st. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Vericel in a research note on Tuesday, July 28th. Truist Financial reissued a “buy” rating and issued a $58.00 target price (up from $54.00) on shares of Vericel in a research note on Friday, July 31st. Finally, Canaccord Genuity Group set a $60.00 price target on shares of Vericel in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.40.
Insider Activity
In related news, insider Sean C. Flynn sold 15,000 shares of Vericel stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.64, for a total transaction of $684,600.00. Following the completion of the transaction, the insider directly owned 1,647 shares of the company’s stock, valued at $75,169.08. This trade represents a 90.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $44.75, for a total transaction of $223,750.00. Following the completion of the transaction, the chief financial officer owned 16,009 shares in the company, valued at approximately $716,402.75. This trade represents a 23.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 52,232 shares of company stock worth $2,304,217. Company insiders own 7.60% of the company’s stock.
Vericel Price Performance
Shares of NASDAQ:VCEL opened at $42.11 on Friday. The business’s fifty day moving average price is $44.53 and its two-hundred day moving average price is $38.10. Vericel Corporation has a fifty-two week low of $28.95 and a fifty-two week high of $49.32. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 89.60 and a beta of 1.06.
Vericel (NASDAQ:VCEL – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $72.70 million. During the same period last year, the business earned ($0.01) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. Research analysts expect that Vericel Corporation will post 0.54 EPS for the current fiscal year.
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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