Allspring Global Investments Holdings LLC Cuts Position in Vericel Corporation $VCEL

Allspring Global Investments Holdings LLC reduced its position in Vericel Corporation (NASDAQ:VCEL) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,713 shares of the biotechnology company’s stock after selling 121,754 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.38% of Vericel worth $24,917,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Congress Asset Management Co. grew its stake in 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 buying an additional 169,971 shares during the period. Diversified Trust Co. increased its holdings in Vericel by 108.5% in the 4th quarter. Diversified Trust Co. now owns 23,061 shares of the biotechnology company’s stock valued at $830,000 after purchasing an additional 12,000 shares in the last quarter. GAMMA Investing LLC raised its position in Vericel by 72.5% in the fourth quarter. GAMMA Investing LLC now owns 3,903 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 1,640 shares during the period. JPMorgan Chase & Co. raised its position in Vericel by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 268,983 shares of the biotechnology company’s stock valued at $8,465,000 after purchasing an additional 2,530 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Vericel during the third quarter worth about $625,000.

Vericel Price Performance

VCEL opened at $34.14 on Friday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 110.13 and a beta of 1.20. Vericel Corporation has a fifty-two week low of $28.95 and a fifty-two week high of $45.97. The company’s 50-day moving average price is $34.68 and its 200 day moving average price is $35.76.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VCEL. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Truist Financial decreased their price target on Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, December 18th. HC Wainwright increased their price objective on shares of Vericel from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Leerink Partners reiterated an “outperform” rating and set a $46.00 price objective on shares of Vericel in a research note on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.00.

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.