Vericel (NASDAQ:VCEL) Sets New 52-Week High – Here’s Why

Vericel Corporation (NASDAQ:VCEL) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.89 and last traded at $47.4650, with a volume of 41725 shares changing hands. The stock had previously closed at $47.02.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VCEL shares. Weiss Ratings upgraded Vericel from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Wall Street Zen downgraded Vericel from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. HC Wainwright reiterated a “buy” rating and issued a $64.00 target price on shares of Vericel in a research report on Friday, May 8th. Finally, Truist Financial dropped their target price on Vericel from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.50.

Vericel Stock Up 1.8%

The firm has a 50-day moving average of $37.88 and a two-hundred day moving average of $36.33. The company has a market capitalization of $2.44 billion, a PE ratio of 113.88 and a beta of 1.07.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.03. The business had revenue of $68.43 million for the quarter, compared to analyst estimates of $63.68 million. Vericel had a return on equity of 6.41% and a net margin of 7.35%.The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) EPS. Equities analysts predict that Vericel Corporation will post 0.49 EPS for the current fiscal year.

Insider Activity

In related news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $44.75, for a total transaction of $223,750.00. Following the sale, the chief financial officer owned 16,009 shares in the company, valued at approximately $716,402.75. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Siegal sold 2,732 shares of Vericel stock in a transaction on Friday, June 26th. The shares were sold at an average price of $44.90, for a total transaction of $122,666.80. Following the completion of the transaction, the insider directly owned 886 shares of the company’s stock, valued at $39,781.40. The trade was a 75.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 47,732 shares of company stock valued at $2,084,167. 7.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vericel

Several institutional investors and hedge funds have recently modified their holdings of VCEL. AQR Capital Management LLC purchased a new position in Vericel during the first quarter worth approximately $242,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 buying an additional 1,847 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Vericel by 13.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company’s stock valued at $16,576,000 after buying an additional 44,333 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 period. Finally, Qube Research & Technologies Ltd grew its stake in Vericel by 5.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 277,253 shares of the biotechnology company’s stock valued at $11,797,000 after acquiring an additional 13,422 shares during the period.

Vericel Company Profile

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.