Cerity Partners LLC Boosts Position in Vericel Corporation (NASDAQ:VCEL)

Cerity Partners LLC increased its holdings in Vericel Corporation (NASDAQ:VCEL) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,384 shares of the biotechnology company’s stock after acquiring an additional 5,988 shares during the quarter. Cerity Partners LLC owned about 0.13% of Vericel worth $2,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Vericel by 119.3% in the fourth quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company’s stock worth $70,775,000 after purchasing an additional 701,064 shares during the period. Champlain Investment Partners LLC bought a new position in Vericel during the 4th quarter valued at approximately $34,233,000. Raymond James Financial Inc. purchased a new position in shares of Vericel in the 4th quarter worth about $28,126,000. Federated Hermes Inc. grew its holdings in shares of Vericel by 25.4% during the fourth quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company’s stock valued at $61,630,000 after buying an additional 227,675 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Vericel by 5,916.5% in the 1st quarter. GAMMA Investing LLC now owns 129,175 shares of the biotechnology company’s stock worth $5,764,000 after acquiring an additional 127,028 shares during the last quarter.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen downgraded Vericel from a “hold” rating to a “sell” rating in a research note on Monday, May 12th. Truist Financial reduced their price objective on Vericel from $61.00 to $51.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Stephens restated an “overweight” rating and set a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.14.

Vericel Stock Down 2.5%

Vericel stock opened at $35.34 on Friday. The business has a 50-day simple moving average of $41.54 and a two-hundred day simple moving average of $46.90. Vericel Corporation has a 52-week low of $35.18 and a 52-week high of $63.00. The company has a market cap of $1.78 billion, a P/E ratio of 1,178.39 and a beta of 1.32.

Vericel (NASDAQ:VCEL) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.14). The business had revenue of $52.60 million for the quarter, compared to analysts’ expectations of $53.86 million. Vericel had a net margin of 1.25% and a return on equity of 1.09%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. Research analysts anticipate that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Vericel 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 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.