Vericel Corporation $VCEL Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Vericel Corporation (NASDAQ:VCEL) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 678,003 shares of the biotechnology company’s stock after selling 21,710 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.33% of Vericel worth $22,076,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VCEL. Principal Financial Group Inc. lifted its position in Vericel by 2.3% in the first quarter. Principal Financial Group Inc. now owns 247,324 shares of the biotechnology company’s stock valued at $7,956,000 after acquiring an additional 5,489 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Vericel by 20,888.4% during the first quarter. Fifth Third Bancorp now owns 256,688 shares of the biotechnology company’s stock worth $8,258,000 after purchasing an additional 255,465 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of Vericel by 66.6% during the first quarter. Granite Investment Partners LLC now owns 120,236 shares of the biotechnology company’s stock worth $3,868,000 after purchasing an additional 48,056 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Vericel by 9.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,463,312 shares of the biotechnology company’s stock valued at $79,245,000 after purchasing an additional 208,750 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of Vericel by 20.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 8,408 shares of the biotechnology company’s stock valued at $270,000 after purchasing an additional 1,405 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on VCEL. Truist Financial lifted their price objective on shares of Vericel from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings raised Vericel from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a report on Saturday. Finally, HC Wainwright reissued a “buy” rating and set a $64.00 price target on shares of Vericel in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Vericel has a consensus rating of “Hold” and an average price target of $55.50.

Vericel Price Performance

NASDAQ VCEL opened at $45.88 on Tuesday. Vericel Corporation has a 1-year low of $28.95 and a 1-year high of $48.75. The firm has a market capitalization of $2.34 billion, a P/E ratio of 109.24 and a beta of 1.07. The business’s 50-day simple moving average is $39.82 and its 200-day simple moving average is $36.88.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. Vericel had a return on equity of 6.41% and a net margin of 7.35%.The company had revenue of $68.43 million for the quarter, compared to analysts’ expectations of $63.68 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. On average, equities research analysts expect that Vericel Corporation will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Vericel news, insider Sean C. Flynn sold 15,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.64, for a total value of $684,600.00. Following the completion of the transaction, the insider owned 1,647 shares in the company, valued at approximately $75,169.08. This represents a 90.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Mark Hopper sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the transaction, the insider owned 75,753 shares of the company’s stock, valued at approximately $3,408,885. This trade represents a 11.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 47,732 shares of company stock valued at $2,084,167 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Vericel 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.