Park Avenue Securities LLC Invests $243,000 in Vericel Corporation $VCEL

Park Avenue Securities LLC bought a new stake in Vericel Corporation (NASDAQ:VCEL) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 5,717 shares of the biotechnology company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VCEL. Diversified Trust Co boosted its stake in Vericel by 70.8% in the second quarter. Diversified Trust Co now owns 11,061 shares of the biotechnology company’s stock valued at $471,000 after acquiring an additional 4,585 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Vericel by 68.7% in the 1st quarter. Voya Investment Management LLC now owns 24,664 shares of the biotechnology company’s stock valued at $1,101,000 after purchasing an additional 10,048 shares during the period. Strs Ohio purchased a new position in Vericel during the 1st quarter worth approximately $812,000. Intech Investment Management LLC grew its stake in Vericel by 51.8% during the 1st quarter. Intech Investment Management LLC now owns 53,533 shares of the biotechnology company’s stock worth $2,389,000 after buying an additional 18,274 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Vericel by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,028 shares of the biotechnology company’s stock worth $5,490,000 after buying an additional 10,191 shares during the period.

Vericel Stock Down 1.8%

NASDAQ VCEL opened at $30.91 on Thursday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 257.60 and a beta of 1.39. Vericel Corporation has a 52-week low of $29.24 and a 52-week high of $63.00. The firm has a 50-day moving average price of $34.78 and a 200 day moving average price of $39.35.

Vericel (NASDAQ:VCEL) last released its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $63.24 million for the quarter, compared to analysts’ expectations of $64.61 million. Vericel had a return on equity of 2.47% and a net margin of 2.85%.The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) EPS. On average, equities research analysts expect that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VCEL. BTIG Research downgraded Vericel from a “buy” rating to a “neutral” rating in a report on Wednesday, September 17th. Stephens reiterated an “overweight” rating and set a $67.00 price target on shares of Vericel in a research note on Monday, June 16th. Finally, Canaccord Genuity Group lowered their price objective on shares of Vericel from $61.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Vericel has an average rating of “Moderate Buy” and an average target price of $60.40.

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.