Envestnet Asset Management Inc. Boosts Holdings in Vericel Corporation (NASDAQ:VCEL)

Envestnet Asset Management Inc. boosted its holdings in Vericel Corporation (NASDAQ:VCEL) by 15.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,510 shares of the biotechnology company’s stock after purchasing an additional 27,526 shares during the quarter. Envestnet Asset Management Inc. owned about 0.41% of Vericel worth $9,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Vericel by 2.7% in the first quarter. Principal Financial Group Inc. now owns 270,154 shares of the biotechnology company’s stock worth $12,054,000 after buying an additional 7,222 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Vericel by 34.8% in the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 748 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Vericel in the fourth quarter worth about $538,000. Zions Bancorporation N.A. lifted its stake in Vericel by 19.8% in the fourth quarter. Zions Bancorporation N.A. now owns 38,186 shares of the biotechnology company’s stock worth $2,097,000 after acquiring an additional 6,307 shares during the period. Finally, Swiss National Bank lifted its stake in Vericel by 6.7% in the fourth quarter. Swiss National Bank now owns 96,500 shares of the biotechnology company’s stock worth $5,299,000 after acquiring an additional 6,100 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VCEL shares. Stephens reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Vericel in a research note on Monday, June 16th. Wall Street Zen lowered Vericel from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Finally, Truist Financial decreased their price objective on Vericel from $61.00 to $51.00 and set a “buy” rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.14.

Vericel Stock Up 0.3%

Shares of Vericel stock opened at $35.46 on Tuesday. The stock’s fifty day moving average is $41.54 and its 200-day moving average is $46.79. The firm has a market capitalization of $1.79 billion, a PE ratio of 1,182.39 and a beta of 1.32. Vericel Corporation has a 12-month low of $34.87 and a 12-month high of $63.00.

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

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.