Vericel (NASDAQ:VCEL) Trading Down 9.1% – What’s Next?
by Renee Jackson · The Cerbat GemVericel Corporation (NASDAQ:VCEL – Get Free Report)’s stock price fell 9.1% during mid-day trading on Friday . The company traded as low as $31.90 and last traded at $31.9450. 430,664 shares were traded during trading, a decline of 27% from the average session volume of 587,385 shares. The stock had previously closed at $35.13.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on VCEL. Wall Street Zen upgraded Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Truist Financial decreased their price objective on Vericel from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Leerink Partners restated an “outperform” rating and issued a $46.00 price objective on shares of Vericel in a report on Tuesday, March 10th. Finally, HC Wainwright restated a “buy” rating and issued a $64.00 price objective on shares of Vericel in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Vericel presently has a consensus rating of “Moderate Buy” and an average target price of $55.40.
Read Our Latest Research Report on VCEL
Vericel Stock Performance
The business has a 50-day moving average of $33.93 and a 200-day moving average of $36.20. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 108.28 and a beta of 1.15.
Vericel (NASDAQ:VCEL – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $68.43 million during the quarter, compared to the consensus estimate of $63.68 million. Vericel had a return on equity of 5.17% and a net margin of 5.98%.The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period last year, the company earned ($0.23) EPS. Equities analysts predict that Vericel Corporation will post 0.45 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Jonathan Mark Hopper sold 3,472 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $35.00, for a total transaction of $121,520.00. Following the completion of the sale, the insider directly owned 75,556 shares of the company’s stock, valued at approximately $2,644,460. This trade represents a 4.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.
Hedge Funds Weigh In On Vericel
Several institutional investors have recently bought and sold shares of the company. Huntington National Bank grew its position in Vericel by 51.3% in the 3rd quarter. Huntington National Bank now owns 805 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 273 shares in the last quarter. Arizona State Retirement System grew its position in Vericel by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 14,882 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 277 shares in the last quarter. State of Alaska Department of Revenue grew its position in 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 valued at $927,000 after acquiring an additional 353 shares in the last quarter. Osaic Holdings Inc. grew its position in 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 acquiring an additional 353 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in 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 acquiring an additional 382 shares in the last quarter.
About Vericel
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.