Bank of New York Mellon Corp trimmed its holdings in shares of Vericel Co. (NASDAQ:VCEL – Free Report) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 379,322 shares of the biotechnology company’s stock after selling 9,840 shares during the period. Bank of New York Mellon Corp owned approximately 0.80% of Vericel worth $14,251,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of VCEL. Soleus Capital Management L.P. lifted its holdings in shares of Vericel by 143.0% in the 4th quarter. Soleus Capital Management L.P. now owns 908,997 shares of the biotechnology company’s stock worth $23,943,000 after purchasing an additional 534,997 shares in the last quarter. State Street Corp lifted its holdings in shares of Vericel by 15.6% in the 2nd 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. Allspring Global Investments Holdings LLC lifted its holdings in shares of Vericel by 163.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 398,721 shares of the biotechnology company’s stock worth $14,980,000 after purchasing an additional 247,268 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Vericel by 1,737.4% in the 2nd 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. Finally, SG Capital Management LLC bought a new position in shares of Vericel in the 1st quarter worth $5,842,000.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. BTIG Research upgraded Vericel from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, August 8th. Leerink Partnrs restated an “outperform” rating on shares of Vericel in a research note on Monday, October 16th. StockNews.com assumed coverage on Vericel in a research note on Thursday, October 5th. They set a “hold” rating on the stock. HC Wainwright raised their price objective on Vericel from $41.00 to $44.50 and gave the company a “buy” rating in a research note on Thursday, September 21st. Finally, Stephens restated an “overweight” rating and set a $44.00 price objective on shares of Vericel in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Vericel has a consensus rating of “Moderate Buy” and a consensus price target of $41.70.
Vericel Price Performance
Shares of Vericel stock opened at $36.75 on Wednesday. Vericel Co. has a 1 year low of $20.40 and a 1 year high of $39.90. The firm has a market cap of $1.75 billion, a PE ratio of -159.78 and a beta of 1.67. The stock has a fifty day moving average price of $34.26 and a 200-day moving average price of $34.38.
Vericel (NASDAQ:VCEL – Get Free Report) last announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.05. Vericel had a negative return on equity of 5.19% and a negative net margin of 5.54%. The firm had revenue of $45.58 million during the quarter, compared to analyst estimates of $45.14 million. As a group, equities analysts anticipate that Vericel Co. will post -0.21 EPS for the current fiscal year.
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.
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