Formula Growth Ltd. Invests $1.15 Million in Vericel Corporation $VCEL

Formula Growth Ltd. bought a new position in shares of Vericel Corporation (NASDAQ:VCELFree Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,824 shares of the biotechnology company’s stock, valued at approximately $1,149,000.

Several other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Vericel in the first quarter valued at $242,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Vericel by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,445 shares of the biotechnology company’s stock worth $1,403,000 after acquiring an additional 1,847 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Vericel by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company’s stock valued at $16,576,000 after acquiring an additional 44,333 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Vericel by 9.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,028 shares of the biotechnology company’s stock valued at $5,490,000 after acquiring an additional 10,191 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Vericel by 5.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 277,253 shares of the biotechnology company’s stock worth $11,797,000 after acquiring an additional 13,422 shares in the last quarter.

Analyst Ratings Changes

VCEL has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and set a $58.00 target price (up from $54.00) on shares of Vericel in a research note on Friday, July 31st. TD Cowen increased their price target on shares of Vericel from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings raised shares of Vericel from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Canaccord Genuity Group set a $60.00 price objective 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 given a Hold rating to the company’s stock. According to data from MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and an average target price of $58.40.

Check Out Our Latest Analysis on Vericel

Insider Transactions at Vericel

In other Vericel news, insider Jonathan Siegal sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $48.90, for a total value of $220,050.00. Following the completion of the sale, the insider owned 1,078 shares in the company, valued at approximately $52,714.20. The trade was a 80.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $44.75, for a total value of $223,750.00. Following the completion of the sale, the chief financial officer directly owned 16,009 shares of the company’s stock, valued at $716,402.75. The trade was a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 52,232 shares of company stock worth $2,304,217. 7.60% of the stock is owned by corporate insiders.

Vericel Price Performance

NASDAQ VCEL opened at $41.18 on Friday. The company has a fifty day moving average of $44.89 and a two-hundred day moving average of $38.31. The company has a market capitalization of $2.11 billion, a PE ratio of 87.62 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:VCELGet Free Report) last posted its earnings results on Thursday, July 30th. The biotechnology company reported $0.04 EPS for the quarter, topping 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 business 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. The business’s revenue was up 22.5% compared to the same quarter last year. On average, research analysts expect that Vericel Corporation will post 0.54 earnings per share for the current year.

Vericel Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Vericel (NASDAQ:VCEL)

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