Oppenheimer Asset Management Inc. Purchases 2,584 Shares of Vericel Co. (NASDAQ:VCEL)

Oppenheimer Asset Management Inc. increased its position in Vericel Co. (NASDAQ:VCEL) by 19.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,078 shares of the biotechnology company’s stock after acquiring an additional 2,584 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vericel were worth $738,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Congress Asset Management Co. MA raised its position in Vericel by 509.1% in the first quarter. Congress Asset Management Co. MA now owns 836,481 shares of the biotechnology company’s stock worth $43,514,000 after acquiring an additional 699,147 shares during the period. TimesSquare Capital Management LLC bought a new position in Vericel in the 1st quarter worth $12,782,000. Federated Hermes Inc. raised its holdings in Vericel by 34.9% in the 2nd quarter. Federated Hermes Inc. now owns 840,787 shares of the biotechnology company’s stock worth $38,575,000 after purchasing an additional 217,437 shares during the period. Victory Capital Management Inc. lifted its position in Vericel by 51.5% during the second quarter. Victory Capital Management Inc. now owns 611,146 shares of the biotechnology company’s stock valued at $28,039,000 after purchasing an additional 207,714 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in Vericel by 43.6% during the first quarter. Geneva Capital Management LLC now owns 679,165 shares of the biotechnology company’s stock valued at $35,330,000 after purchasing an additional 206,202 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on VCEL shares. Canaccord Genuity Group started coverage on Vericel in a research report on Friday, August 9th. They set a “buy” rating and a $57.00 price objective on the stock. Canaccord Genuity Group assumed coverage on shares of Vericel in a research report on Friday, August 9th. They issued a “buy” rating and a $57.00 price target for the company. HC Wainwright raised their price objective on shares of Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial upped their target price on shares of Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, StockNews.com cut Vericel from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Vericel Stock Down 3.0 %

Shares of Vericel stock opened at $46.57 on Friday. Vericel Co. has a twelve month low of $30.18 and a twelve month high of $54.10. The business has a 50-day moving average price of $48.29 and a 200-day moving average price of $47.39. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -4,657.00 and a beta of 1.67.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The business 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 company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. On average, equities analysts expect that Vericel Co. will post 0.12 EPS for the current fiscal year.

Insider Activity at Vericel

In other Vericel news, insider Sean C. Flynn sold 1,474 shares of Vericel stock in a transaction on Monday, June 24th. The shares were sold at an average price of $45.84, for a total value of $67,568.16. Following the completion of the transaction, the insider now directly owns 487 shares of the company’s stock, valued at approximately $22,324.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Sean C. Flynn sold 1,474 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $45.84, for a total value of $67,568.16. Following the completion of the sale, the insider now directly 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 available through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $51.40, for a total value of $899,500.00. Following the transaction, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $11,356,161.80. The disclosure for this sale can be found here. Insiders have sold a total of 39,519 shares of company stock valued at $2,024,293 over the last 90 days. 5.20% of the stock is owned by corporate insiders.

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.