Bank of New York Mellon Corp Grows Position in Vericel Corporation $VCEL

Bank of New York Mellon Corp increased its stake in shares of Vericel Corporation (NASDAQ:VCEL) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 303,854 shares of the biotechnology company’s stock after acquiring an additional 3,891 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Vericel worth $12,929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of VCEL. Envestnet Asset Management Inc. grew its position in shares of Vericel by 15.6% during the first quarter. Envestnet Asset Management Inc. now owns 204,510 shares of the biotechnology company’s stock valued at $9,125,000 after purchasing an additional 27,526 shares in the last quarter. Strs Ohio purchased a new position in Vericel during the 1st quarter valued at approximately $812,000. Voya Investment Management LLC increased its stake in Vericel by 68.7% in the 1st quarter. Voya Investment Management LLC now owns 24,664 shares of the biotechnology company’s stock worth $1,101,000 after acquiring an additional 10,048 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Vericel by 6.2% during the 1st quarter. Royal Bank of Canada now owns 950,486 shares of the biotechnology company’s stock worth $42,410,000 after acquiring an additional 55,436 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of Vericel by 18.0% during the 2nd quarter. Congress Asset Management Co. now owns 1,742,324 shares of the biotechnology company’s stock worth $74,136,000 after acquiring an additional 265,606 shares in the last quarter.

Vericel Stock Performance

Vericel stock opened at $39.03 on Wednesday. The company has a market capitalization of $1.97 billion, a PE ratio of 325.28 and a beta of 1.41. The company has a 50 day moving average price of $34.59 and a 200-day moving average price of $37.74. Vericel Corporation has a fifty-two week low of $29.24 and a fifty-two week high of $63.00.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.12. Vericel had a return on equity of 2.47% and a net margin of 2.85%.The company had revenue of $67.50 million for the quarter, compared to the consensus estimate of $64.57 million. During the same period last year, the business posted ($0.02) EPS. Vericel’s quarterly revenue was up 16.6% on a year-over-year basis. Vericel has set its FY 2025 guidance at EPS. On average, analysts forecast that Vericel Corporation will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VCEL. Zacks Research cut shares of Vericel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Vericel in a report on Thursday, November 13th. BTIG Research cut shares of Vericel from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 17th. Wall Street Zen upgraded Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Canaccord Genuity Group decreased their price objective on Vericel from $61.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.20.

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.