Vericel (NASDAQ:VCEL) Stock Price Down 3.4%

Shares of Vericel Co. (NASDAQ:VCEL) were down 3.4% during trading on Tuesday . The company traded as low as $44.31 and last traded at $44.80. Approximately 110,559 shares changed hands during trading, a decline of 75% from the average daily volume of 439,760 shares. The stock had previously closed at $46.37.

Analyst Ratings Changes

Several research analysts have recently weighed in on VCEL shares. TD Cowen lifted their price target on shares of Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Truist Financial upped their price target on Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group initiated coverage on Vericel in a research note on Friday, August 9th. They set a “buy” rating and a $57.00 price objective for the company. Stephens raised their target price on shares of Vericel from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut shares of Vericel from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.75.

Vericel Stock Performance

The business’s fifty day simple moving average is $48.22 and its 200-day simple moving average is $47.44. The company has a market capitalization of $2.18 billion, a P/E ratio of -4,637.00 and a beta of 1.67.

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

Insider Buying and Selling at Vericel

In other news, insider Sean C. Flynn sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $52.18, for a total transaction of $782,700.00. Following the sale, the insider now directly owns 707 shares in the company, valued at approximately $36,891.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of Vericel stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 14,436 shares of the company’s stock, valued at approximately $721,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean C. Flynn sold 15,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $52.18, for a total transaction of $782,700.00. Following the completion of the sale, the insider now directly owns 707 shares in the company, valued at $36,891.26. The disclosure for this sale can be found here. Insiders sold 38,045 shares of company stock worth $1,956,725 over the last 90 days. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vericel

Several hedge funds and other institutional investors have recently modified their holdings of VCEL. Northwestern Mutual Wealth Management Co. increased its stake in Vericel by 104.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,108 shares of the biotechnology company’s stock worth $188,000 after purchasing an additional 2,103 shares during the period. Algert Global LLC purchased a new position in Vericel in the 2nd quarter worth about $213,000. The Manufacturers Life Insurance Company lifted its holdings in Vericel by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,472 shares of the biotechnology company’s stock valued at $1,215,000 after buying an additional 1,355 shares in the last quarter. Squarepoint Ops LLC bought a new position in Vericel in the 2nd quarter worth about $513,000. Finally, Public Sector Pension Investment Board grew its stake in Vericel by 9.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 106,911 shares of the biotechnology company’s stock worth $4,905,000 after acquiring an additional 9,084 shares in the last quarter.

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.