Granahan Investment Management LLC Sells 33,318 Shares of Vericel Co. (NASDAQ:VCEL)

Granahan Investment Management LLC lessened its position in shares of Vericel Co. (NASDAQ:VCEL) by 9.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,023 shares of the biotechnology company’s stock after selling 33,318 shares during the period. Granahan Investment Management LLC owned 0.65% of Vericel worth $9,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VCEL. Soleus Capital Management L.P. raised its stake in Vericel by 143.0% during the fourth quarter. Soleus Capital Management L.P. now owns 908,997 shares of the biotechnology company’s stock worth $23,943,000 after buying an additional 534,997 shares during the last quarter. State Street Corp increased its holdings in Vericel by 15.6% in the second quarter. State Street Corp now owns 3,400,735 shares of the biotechnology company’s stock worth $85,631,000 after purchasing an additional 458,219 shares in the last quarter. Sei Investments Co. increased its holdings in Vericel by 1,737.4% in the second quarter. Sei Investments Co. now owns 221,348 shares of the biotechnology company’s stock worth $5,574,000 after purchasing an additional 209,301 shares in the last quarter. SG Capital Management LLC bought a new stake in Vericel in the first quarter worth approximately $5,842,000. Finally, Dimensional Fund Advisors LP increased its holdings in Vericel by 39.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 553,707 shares of the biotechnology company’s stock worth $14,585,000 after purchasing an additional 156,193 shares in the last quarter.

Vericel Stock Performance

Shares of VCEL opened at $32.71 on Monday. The stock has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $32.96. The firm has a market capitalization of $1.56 billion, a P/E ratio of -112.79 and a beta of 1.76. Vericel Co. has a 52 week low of $17.30 and a 52 week high of $39.90.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Vericel had a negative return on equity of 6.90% and a negative net margin of 7.39%. The firm had revenue of $45.92 million during the quarter, compared to analyst estimates of $42.14 million. During the same period in the previous year, the company posted ($0.19) EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts forecast that Vericel Co. will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VCEL shares. HC Wainwright lifted their price target on shares of Vericel from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Truist Financial lowered their target price on Vericel from $42.00 to $39.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. BTIG Research raised shares of Vericel from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Tuesday, August 8th. Finally, StockNews.com started coverage on shares of Vericel in a report on Thursday, August 17th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vericel currently has an average rating of “Moderate Buy” and a consensus target price of $40.25.

Insider Transactions at Vericel

In other news, Director Robert L. Md Zerbe sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $38.84, for a total value of $38,840.00. Following the completion of the transaction, the director now directly owns 33,395 shares of the company’s stock, valued at $1,297,061.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Vericel news, Director Robert L. Md Zerbe sold 1,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $38.84, for a total transaction of $38,840.00. Following the completion of the transaction, the director now directly owns 33,395 shares of the company’s stock, valued at $1,297,061.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert L. Md Zerbe sold 3,000 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $36.00, for a total value of $108,000.00. Following the transaction, the director now directly owns 34,395 shares of the company’s stock, valued at $1,238,220. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

Vericel Company Profile

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 the United States. 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; and Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns.