Envestnet Asset Management Inc. Has $9.13 Million Holdings in Vericel Corporation (NASDAQ:VCEL)

Envestnet Asset Management Inc. increased its stake in shares of Vericel Corporation (NASDAQ:VCEL) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,510 shares of the biotechnology company’s stock after purchasing an additional 27,526 shares during the period. Envestnet Asset Management Inc. owned approximately 0.41% of Vericel worth $9,125,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Vericel by 2.7% in the first quarter. Principal Financial Group Inc. now owns 270,154 shares of the biotechnology company’s stock valued at $12,054,000 after buying an additional 7,222 shares during the period. Lisanti Capital Growth LLC lifted its stake in Vericel by 53.4% during the first quarter. Lisanti Capital Growth LLC now owns 39,015 shares of the biotechnology company’s stock worth $1,741,000 after purchasing an additional 13,585 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Vericel by 6.0% during the first quarter. Illinois Municipal Retirement Fund now owns 27,802 shares of the biotechnology company’s stock worth $1,241,000 after purchasing an additional 1,573 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Vericel by 19.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,576 shares of the biotechnology company’s stock worth $873,000 after purchasing an additional 3,209 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in Vericel by 15.3% during the first quarter. PFG Investments LLC now owns 7,550 shares of the biotechnology company’s stock worth $337,000 after purchasing an additional 1,000 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on VCEL. Truist Financial decreased 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. Stephens reiterated an “overweight” rating and set a $67.00 price target on shares of Vericel in a report on Monday, June 16th. Finally, Wall Street Zen downgraded Vericel from a “hold” rating to a “sell” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.14.

Vericel Trading Up 0.3%

VCEL opened at $35.46 on Tuesday. The company has a market capitalization of $1.79 billion, a PE ratio of 1,178.00 and a beta of 1.32. Vericel Corporation has a 1-year low of $34.87 and a 1-year high of $63.00. The firm’s 50 day simple moving average is $41.54 and its two-hundred day simple moving average is $46.79.

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