Vericel (NASDAQ:VCEL) Trading 6.3% Higher

Vericel Co. (NASDAQ:VCEL) rose 6.3% on Thursday . The company traded as high as $49.43 and last traded at $49.28. Approximately 84,152 shares changed hands during trading, a decline of 81% from the average daily volume of 435,789 shares. The stock had previously closed at $46.35.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VCEL. BTIG Research cut their target price on Vericel from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group began coverage on shares of Vericel in a research note on Friday, August 9th. They set a “buy” rating and a $57.00 target price on the stock. Canaccord Genuity Group initiated coverage on shares of Vericel in a report on Friday, August 9th. They issued a “buy” rating and a $57.00 target price on the stock. StockNews.com downgraded shares of Vericel from a “hold” rating to a “sell” rating in a report on Friday. Finally, Truist Financial upped their price objective on Vericel from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.75.

Vericel Stock Performance

The stock has a market cap of $2.26 billion, a PE ratio of -4,657.00 and a beta of 1.67. The stock’s 50-day moving average is $48.29 and its two-hundred day moving average is $47.39.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $52.70 million during the quarter, compared to analysts’ expectations of $52.59 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) EPS. Analysts forecast that Vericel Co. will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, insider Sean C. Flynn sold 1,474 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $45.84, for a total transaction of $67,568.16. Following the completion of the transaction, the insider now owns 487 shares of the company’s stock, valued at approximately $22,324.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vericel news, insider Sean C. Flynn sold 1,474 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $45.84, for a total transaction of $67,568.16. Following the sale, the insider now directly owns 487 shares in the company, valued at approximately $22,324.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $51.40, for a total transaction of $899,500.00. Following the sale, the chief executive officer now owns 220,937 shares in the company, valued at $11,356,161.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,519 shares of company stock valued at $2,024,293. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

A number of hedge funds have recently added to or reduced their stakes in VCEL. MCF Advisors LLC lifted its holdings in Vericel by 86.1% during the 1st quarter. MCF Advisors LLC now owns 482 shares of the biotechnology company’s stock worth $25,000 after buying an additional 223 shares in the last quarter. CWM LLC raised its holdings in shares of Vericel by 319.0% in the 2nd quarter. CWM LLC now owns 662 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 504 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Vericel by 9.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,484 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 220 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Vericel by 178.7% in the 1st quarter. Lazard Asset Management LLC now owns 2,584 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 1,657 shares in the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in shares of Vericel in the 1st quarter valued at $147,000.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.