Vericel (NASDAQ:VCEL) Sets New 52-Week Low – Here’s What Happened

Shares of Vericel Corporation (NASDAQ:VCEL) reached a new 52-week low during trading on Friday . The company traded as low as $28.95 and last traded at $29.52, with a volume of 116864 shares. The stock had previously closed at $30.82.

Analyst Ratings Changes

VCEL has been the topic of a number of research reports. Leerink Partners restated an “outperform” rating and issued a $46.00 price objective on shares of Vericel in a report on Tuesday, March 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. HC Wainwright boosted their price objective on shares of Vericel from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Truist Financial dropped their price objective on shares of Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.00.

Vericel Price Performance

The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 94.65 and a beta of 1.22. The business’s 50-day moving average price is $35.17 and its 200 day moving average price is $35.76.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $92.92 million for the quarter, compared to analyst estimates of $92.66 million. Vericel had a net margin of 5.98% and a return on equity of 5.17%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts expect that Vericel Corporation will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Vericel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of Vericel by 38.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 118,856 shares of the biotechnology company’s stock valued at $5,057,000 after buying an additional 32,976 shares during the last quarter. Congress Asset Management Co. lifted its position in shares of Vericel by 11.4% during the fourth quarter. Congress Asset Management Co. now owns 1,664,578 shares of the biotechnology company’s stock worth $59,941,000 after purchasing an additional 169,971 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Vericel by 174.0% during the third quarter. GSA Capital Partners LLP now owns 64,387 shares of the biotechnology company’s stock worth $2,026,000 after purchasing an additional 40,892 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in Vericel by 74.3% in the second quarter. Frontier Capital Management Co. LLC now owns 398,960 shares of the biotechnology company’s stock worth $16,976,000 after purchasing an additional 170,006 shares in the last quarter. Finally, Aberdeen Group plc increased its holdings in Vericel by 159.5% in the third quarter. Aberdeen Group plc now owns 542,866 shares of the biotechnology company’s stock valued at $17,084,000 after buying an additional 333,649 shares during the last quarter.

Vericel Company Profile

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.