Vericel (NASDAQ:VCEL) Sets New 52-Week High on Better-Than-Expected Earnings

Vericel Co. (NASDAQ:VCEL)’s stock price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $54.47 and last traded at $53.94, with a volume of 225594 shares changing hands. The stock had previously closed at $50.03.

The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stephens boosted their target price on shares of Vericel from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on shares of Vericel in a research report on Friday, August 9th. They issued a “buy” rating and a $57.00 target price for the company. Truist Financial boosted their target price on shares of Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a research report on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Vericel in a research report on Friday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.71.

Insider Buying and Selling

In related news, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the sale, the chief executive officer now directly owns 220,937 shares of the company’s stock, valued at approximately $9,142,373.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the sale, the chief executive officer now directly owns 220,937 shares of the company’s stock, valued at $9,142,373.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven C. Gilman sold 5,833 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total transaction of $241,252.88. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $454,960. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,166 shares of company stock valued at $1,200,764. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

A number of hedge funds have recently made changes to their positions in VCEL. UniSuper Management Pty Ltd acquired a new stake in shares of Vericel during the 1st quarter worth about $595,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Vericel by 10.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,021,695 shares of the biotechnology company’s stock worth $53,149,000 after acquiring an additional 100,797 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in Vericel during the 1st quarter worth approximately $6,538,000. Scholtz & Company LLC bought a new position in Vericel during the 2nd quarter worth approximately $1,357,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Vericel by 6.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 420,643 shares of the biotechnology company’s stock worth $19,299,000 after acquiring an additional 25,626 shares during the last quarter.

Vericel Stock Performance

The firm’s 50 day moving average is $44.27 and its two-hundred day moving average is $46.40.

Vericel Company 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.